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This is one such explanation of the Third Wave.
Here are aspects I can make sense of:
-women reclaiming their sexuality and femininity from male pornographic exploitation
-blurring of gender identity and gender roles
-global and multicultural reach (as opposed to the almost exclusively white, western, and middle class orientation of the first two movements)
So from what I can see and understand here, there is nothing here that I object to. In fact, there is much that appeals to me. But I desperately need to do some reading so I can render a properly informed opinion.