A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.
Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.
The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is the philosophy of freedom,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.
Ashcroft’s U-Turn: Suing Big Tobacco for a Quarter-Trillion Bucks
Featuring Matthew Myers, President, Campaign for Tobacco-Free Kids; William B. Schultz, Partner, Zuckerman Spaeder LLP; Robert A. Levy, Senior Fellow in Constitutional Studies, Cato Institute; and Kenneth N. Bass, Partner, Kirkland & Ellis.
Ten months after the tobacco giants and the states settled their differences for a skimpy $246 billion, the federal government decided that it wanted a piece of the pie. So the Clinton Justice Department filed suit, alleging that industry executives conspired to lie about their product, manipulate nicotine content, and target kids with cigarette ads. Then the Republicans took over. Attorney General John Ashcroft, who opposed the suit as a senator, was reluctant to fund litigation that he deemed too weak for trial. But he’s changed his mind. In an astonishing about-face, the Justice Department has now decided to seek an additional $289 billion in damages, with a trial planned for next year if the industry doesn’t cave. Why the reversal? Is the multi-billion-dollar pot just too enticing for the cash-strapped feds? Or is there a real need for one more round in the government’s anti-tobacco campaign? Please join us for a vigorous debate on health, public policy, and the rule of law.