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.
Numerous polls show that Americans want to reduce our military presence abroad, allowing our allies and other nations to assume greater responsibility both for their own defense and for enforcing security in their respective regions. Why haven’t we done so? In The Power Problem, Christopher Preble contends that the vast military strength of the United States has induced policymakers in Washington to broaden the perception of the “national interest,” and ultimately to commit the United States to the impossible task of maintaining global order. What does preserving American security require, and how engaged should U.S. forces be beyond protecting our core national interests? To what extent does the status quo advance U.S. security, and to what degree is it undermining our security, imposing unnecessary costs, and forcing all Americans to incur additional risks? Please join Cato’s Christopher Preble and the Nixon Center’s Paul Saunders for a discussion about the nature of American military power, its purpose in U.S. foreign policy, and its power to define the national interest.