Featuring William P. Ruger, Vice President of Policy and Research, Charles Koch Institute; Jason Sorens, Lecturer, Department of Government, Dartmouth College; moderated by Peter Russo, Director of Congressional Affairs, Cato Institute.
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.
Countervailing Calamity: How to Stop the Global Subsidies Race
Featuring Tim Carney, Washington Examiner; Scott Lincicome, White and Case, LLP; and John Magnus, TradeWins LLC; moderated by Dan Ikenson, Cato Institute.
You’ve heard of Solyndra, Government Motors, and the tens of billions of dollars transferred annually from U.S. taxpayers to America’s wealthy agribusinesses—including the occasional farmer living in Manhattan. Worldwide, government subsidies to chosen industries and favored companies are out of control, bankrupting treasuries, breeding cronyism, misdirecting and deterring private investment, distorting market signals, and undermining support for capitalism and free trade. Always demanding more, domestic subsidy recipients cite foreign subsidies as grounds for yet more largesse, and the cycle continues. How will this global subsidies race end? “Very badly,” according to experts who argue that policymakers must find a way to rein in this economically and politically corrosive process.