Implementation in Libya
The theory was partially implemented in Libya. In March 1977, the "Declaration of Sabha" was declared, and the republic was transformed into a Jamahiriya (the Socialist People's Libyan Arab Jamahiriya). Those forms of private ownership which were deemed exploitative were abolished (whereas private family businesses in the service sector were preserved).
With the advent of globalization and the information revolution Gaddafi slightly modified his theory by introducing a thesis about the era of large spaces in which the nation-state is becoming inviable. The word "Jamahiriya" (Arabic: جماهيرية jamāhīriyyah, approximately " of the masses") is an Arabic neologism. It is the feminine nisba adjective formed from the term "Jamahir" (masses). It echoes the Arabic term for "Republic", "Jumhuriyah" (formally the feminine nisba adjective from Jumhur "people") .
Gaddafi's "Jamahiriya" form of government was supposed to be different from both the monarchy and the republic, hence the name of "Third" International Theory.
Read more about this topic: Third International Theory