Topic: Cato Publications

The Libertarian Mind Is Fareed Zakaria’s “Book of the Week”

On CNN’s GPS, Fareed Zakaria declared The Libertarian Mind “the Book of the Week.” Here’s the transcript:

This week’s book of the week is David Boaz’s “The Libertarian Mind: A Manifesto for Freedom.” People often wonder what it means when someone describes himself or herself as a libertarian. And that includes people like Rand Paul, Alan Greenspan and Peter Thiel. David Boaz does a superb job of explaining the ideas that animate an important philosophical tradition, and he does it with passion. For anyone interested in politics, this is a valuable resource and a well-written book.

And here’s the 30-second video:

The show ran last Sunday, so today is probably the last day of its reign as “Book of the Week.” Buy The Libertarian Mind today.

Ukraine Hyperinflates

Since the New Year, Ukraine’s currency – the hryvnia – has collapsed, losing 51 percent of its value against the U.S. dollar. To put this rout into perspective, consider that the Russian ruble has only lost 8 percent against the greenback during the same period.

Like night follows day, the hryvnia’s meltdown has resulted in a surge of inflation. The last official Ukrainian year-over-year inflation rate is 28.5 percent. This rate was reported for January and is out of date. That said, the official inflation rate has consistently and massively understated Ukraine’s brutal inflation. At present, Ukraine’s implied annual inflation rate is 272 percent. This is the world’s highest inflation rate, well above Venezuela’s 127 percent rate (see the accompanying chart).

When inflation rates are elevated, standard economic theory and reliable empirical techniques allow us to produce accurate inflation estimates. With free market exchange-rate data (usually black-market data), the inflation rate can be calculated. Indeed, the principle of purchasing power parity (PPP), which links changes in exchange rates and changes in prices, allows for a reliable inflation estimate.

To calculate the inflation rate in Ukraine, all that is required is a rather straightforward application of a standard, time-tested economic theory (read: PPP). At present, the black-market UAH/USD exchange rate sits at 33.78. Using this figure and black-market exchange rate data that the Johns Hopkins-Cato Institute for Troubled Currencies Project has collected over the past year, I estimate Ukraine’s current annual inflation rate to be 272 percent – and its monthly inflation rate to be 64.5 percent. This rate exceeds the 50 percent per month threshold required to qualify for hyperinflation. So, if Ukraine sustains its current monthly rate of inflation for several more months, it will enter the record books as the world’s 57th hyperinflation episode. 

The Libertarian Reader Presents the Best Thinking about Liberty over Three Millennia

The Libertarian ReaderSimon & Schuster has just published The Libertarian Reader: Classic & Contemporary Writings from Lao-Tzu to Milton Friedman, which I edited. Buy it now from any good bookseller!

Just look at some of the great thinkers included in The Libertarian Reader:

  • Lao-Tzu
  • Richard Overton
  • John Locke
  • Adam Smith
  • David Hume
  • Thomas Paine
  • Thomas Jefferson
  • Mary Wollstonecraft
  • Alexis de Tocqueville
  • Frederic Bastiat
  • John Stuart Mill
  • Frederick Douglass
  • Angelina Grimke
  • Herbert Spencer
  • Ludwig von Mises
  • F. A. Hayek
  • Ayn Rand
  • Murray Rothbard
  • Milton Friedman
  • Robert Nozick
  • Richard Epstein
  • Mario Vargas Llosa

When the first edition was published in 1997, Laissez Faire Books called it “The most magnificent collection of libertarian writings ever published.” In this edition, Tom G. Palmer’s magisterial guide to “The Literature of Liberty” has been updated to include important libertarian books published in the 21st century. That essay alone is worth the price of the book!

Buy it together with The Libertarian Mind at an incredible discount.

The Libertarian Mind in the News

I’ve been busy talking up the libertarian moment, libertarian ideas, and The Libertarian Mind (buy it now, available everywhere) in person and in print lately. Here are a few recent examples.

My article on America’s libertarian roots in Sunday’s Philadelphia Inquirer:

Indeed, the principles of the Declaration are so closely associated with libertarianism that the Chinese edition of my previous book, Libertarianism: A Primer, features a cover photograph of the famous room in Independence Hall, complete with Windsor chairs and green tablecloths.

Libertarianism is the philosophy of freedom. It has, in different form throughout history, inspired people who fought for freedom, dignity, and individual rights - the early advocates of religious tolerance, the opponents of absolute monarchy, the American revolutionaries, the abolitionists, antiwar advocates and anti-imperialists, opponents of National Socialism and communism.

The next day, Nick Gillespie interviewed me at the National Constitution Center in Philadelphia. Video here.

My article “Black History Is American History” at HuffingtonPost:

Black history is American history, a story of oppression and liberation rooted in the libertarian idea of individual rights. Much of the progress we have made in the United States has involved extending the promises of the Declaration of Independence – life, liberty and the pursuit of happiness – to more and more people. The emphasis on the individual mind in the Enlightenment, the individualist nature of market capitalism and the demand for individual rights that inspired the American Revolution naturally led people to think more carefully about the nature of the individual and gradually to recognize that the dignity of individual rights should be extended to all.

And my interview with African American Conservatives.

My print interview yesterday with Salon:

Where am I the most optimistic? I am optimistic that around the world more and more people are moving into a world of property rights, markets, globalization, human rights, women’s rights, access to information and opportunity. Now that’s obviously not true everywhere; there are, at any given moment, unfortunate setbacks in Venezuela and Russia and some of Eastern Europe. But I do think the largest historical trend of our time is the move in a broadly libertarian direction, and therefore toward a higher standard of living for billions of people around the world.

Are you thinking of the growing middle class in China and India when you say this?

Absolutely. The change in economic conditions in China and India — right there you got one-third of the world. But also there have been some advances in the direction of human rights in Africa as well. So in a great deal of the world, you’ve seen a huge reduction in poverty and absolute poverty, and a rising middle class in many of these countries.

Interviews with Jim Bohannon, Garland Robinette, Bill Frezza, and others can be found here.

Buy the book!

 

You Asked Cato EVP David Boaz Anything. Here’s What Happened…

Over his 33 years at Cato and through his earlier activities in the libertarian policy sphere, Cato’s Executive Vice President David Boaz has played a key role in the development of both the Cato Institute and the libertarian movement at large; he even wrote the Encyclopedia Britannica entry on libertarianism!

On Tuesday, in conjunction with the release of his new book, The Libertarian Mind: A Manifesto for Freedom (which, incidentally, sold out on Amazon within hours), Boaz took to Reddit’s iAMA forum to discuss libertarianism, his book, and the burgoening “libertarian moment,” inviting Redditors of all ilks to ask him anything

During the hour long Q&A session, Boaz tackled a wide-array of questions, weighing in on everything from the drug war and abortion to effective strategies for social change and the efficacy of libertarian governance.  Each one of his responses ignited impassioned debates amongst the forum’s diverse audience as commenters from all sides of the political spectrum hashed out the ideas of liberty. 

The resulting discussion is a fascinating one, very much worth your attention. Check out the Reddit discussion and Boaz’s book, and then continue the conversation on Twitter using #LibertarianMind.

Talking Libertarianism with Reason.tv

Thanks to Nick Gillespie and Reason.tv for allowing me to talk at length in this interview about my path to libertarianism, self-evident truths, Ayn Rand, Rand Paul, and a lot of other topics related to The Libertarian Mind. About one hour:

There’s a mostly accurate transcript here.

You can find the transcript of last night’s Reddit AMA here.

The Libertarian Mind is out of stock at Amazon! Of course, you can still get it on Kindle. Or you can buy it at many other fine bookstores, both storefront and online, some of which are linked here.

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