"To pursue a so-called Third Way is foolish. We had our experience with this in the 1960s when we looked for a socialism with a human face. It did not work, and we must be explicit that we are not aiming for a more efficient version of a system that has failed"

This quote by Vaclav Klaus is a warning against the pursuit of a "Third Way" in between capitalism and socialism. He is describing the 1960s when the idea of a "socialism with a human face" was proposed, which was an effort to make socialism more tasty to the public. Nevertheless, this concept stopped working and Klaus is cautioning versus attempting to make a more effective version of a system that has actually already failed. He is stressing that the pursuit of a Third Way is foolish and that it is important to be explicit that this is not the goal. Klaus is recommending that it is better to concentrate on the strengths of either capitalism or socialism, rather than trying to combine the two.