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.
Debt Relief for Poor Countries: Are the World Bank and IMF Doing the Right Thing?
Featuring Adam Lerrick, Gailliot Center for Public Policy, Carnegie Mellon University; Michael Hadjimichael, International Monetary Fund; Ian Vásquez, Cato Institute.
The World Bank and the International Monetary Fund have identified 41 poor countries whose debt burdens have grown too onerous to pay back. The lending agencies have begun reducing the debt of some of those countries and are asking rich nations to provide additional funds to the $28 billion initiative. Michael Hadjimichael will explain how the plan will help get countries on the path to self-sustaining growth and how it will assure that new funds are spent wisely. Adam Lerrick will question whether the initiative goes far enough and will explain why the lending agencies have plenty of their own resources to pay for debt they cannot collect. Ian Vásquez will explain why he favors debt relief but not the IMF and World Bank initiative.