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.
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.
Broadband and the Markets: Perspectives from the Investment Community
Featuring Doug Ashton, Bear Stearns; Blake Bath, Lehman Brothers; Scott Cleland, Precursor Group; Erik Olbeter, Schwab Capital Markets.
This panel of respected telecom industry analysts will discuss the ongoing debate over telecom industry regulation, deregulation, and broadband deployment. They will be asked to discuss various proposals currently before Congress and the FCC and to assess the impact of those measures on markets and consumers. For example: How well is the market working? How can Washington policymakers speed up deployment, competition, or both? Which goal is more important, a plethora of competitors or an expansion of broadband deployment? And does the market really pay attention to bills and what specific policymakers do and say on any given day? Finally, where are telecom stocks headed if the status quo prevails? Which sectors will be the big winners? Which will be the losers?