This is a transcript of a talk given on the occasion of the Academy of the Social Sciences' President's Lunch, at the House of Lords, London, on 31 January 2007. In the chair was the President, Lord Bhikhu Parekh, and the vote of thanks was given by the Chair of the Council of the Academy, Professor Miriam David. Tony Giddens began his talk by revisiting some of the events leading to his involvement in practical politics, and becoming a policy advisor to Tony Blair and the New Labour Government. He went on to reflect on the impact and significance of his book, The Third Way, and on the success of the Blair Government project, and its possible future under Gordon Brown. He concluded with his observations about why so few social science intellectuals go into politics, and then answered some questions from the audience of Academicians and their guests.