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.
Economic Collapse and Political Repression in Robert Mugabe’s Zimbabwe
Featuring: Walter H. Kansteiner, Principal, Scowcroft Group Former Assistant Secretary of State for African Affairs; Carol Thompson, Deputy Assistant Secretary, Bureau of African Affairs, Department of State; and Richard Tren, Director, Africa Fighting Malaria. Moderated by Marian Tupy, Cato Institute.
On March 29 Zimbabweans will cast their votes in presidential and parliamentary elections that are likely to be rigged in favor of Robert Mugabe and his ZANU-PF party. Mugabe and the ZANU-PF elite have presided over the collapse of living standards in Zimbabwe and the destruction of her economy. They are also responsible for massive human rights abuses that include a massacre of some 20,000 civilians in the Matabeleland in the 1980s. The panel will discuss the current economic and political situation in Zimbabwe, and possible post-election scenarios. The forum will coincide with the release of a new Cato study detailing Zimbabwe’s decline.