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 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.
Chinese Intrusions into American Universities: Consequences for Freedom
Featuring Thomas Cushman, Professor, Wellesley College; with comments by Xia Yeliang, Visiting Fellow, Center for Global Liberty and Prosperity, Cato Institute; moderated by James A. Dorn, Senior Fellow, Cato Institute, and Editor, Cato Journal.
There has been an explosion of partnerships, exchanges, and programs between U.S. institutions of higher education and those in China. While made in the spirit of intellectual and scholarly collaboration, these relationships have proceeded without serious consideration of the practical and moral/ethical issues posed by dealing with authoritarian regimes. This presentation focuses on the case of Wellesley College’s relationship with Peking University as it unfolded in light of the persecution and dismissal of Chinese economist and dissident Xia Yeliang. This case illustrates the pressure that authoritarian-controlled universities can exert on universities in a free society to overlook human rights violations.