Unconventional monetary policy—characterized by “zero interest rate policy” (ZIRP) and “quantitative easing” (QE), along with macro-prudential regulation—has increased the power of central banks in the United States, Japan, and Europe. In the new issue of Cato Journal, contributors revisit the thinking behind unconventional monetary policy and the “new monetary framework,” make the case for transparent monetary rules versus foggy discretion, and point to the distortions generated by ultra-low interest rates and preferential credit allocation.
With the end of Convention season mercifully upon us, we thought we ought to have a look at what the party platforms have to say about energy and the environment, with an eye on climate change policies in particular.
When the Danish newspaper Jyllands-Posten published the cartoons of the prophet Muhammad in 2005, Denmark found itself at the center of a global battle about the freedom of speech. The paper’s culture editor, Flemming Rose, defended the decision to print the 12 drawings, and he quickly came to play a central part in the debate about the limitations to freedom of speech in the 21st century. In The Tyranny of Silence, Flemming Rose provides a personal account of an event that has shaped the debate about what it means to be a citizen in a democracy and how to coexist in a world that is increasingly multicultural, multireligious, and multiethnic.
The Cato Institute has released its 2015 Annual Report, which documents a dynamic year of growth and productivity. The thousands of individuals who contribute to Cato are passionate about freedom and committed to ensuring that future generations enjoy the blessings of liberty, unencumbered by an overreaching state that seeks to control their lives. This is Cato’s optimistic vision for the future, and it would be unimaginable without the Institute’s longstanding partnership with its Sponsors. We will continue our diligence and dedication to seeing this vision realized.
Assessing the Options: REAL ID, PASS ID, or No National ID at All
Featuring Christopher Calabrese, Counsel, Technology & Liberty Program, American Civil Liberties Union; David E. Williams, Vice President, Policy, Citizens Against Government Waste; and Jim Harper, Director of Information Policy Studies, Cato Institute.
The introduction of a bill called the PASS ID Act in the Senate has renewed the debate about whether the United States should have a national ID. PASS ID purports to improve on the moribund REAL ID Act, but the central question is whether there should be a national ID at all. A national ID would cost billions of dollars, place sensitive identity documents into insecure databases, and give the federal government more control over Americans’ private lives. Join us for a discussion of the weaknesses that PASS ID and REAL ID share with any national ID system, and why diverse, competitive identity and credentialing systems are superior.