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.
Featuring the editor Benjamin Powell, Director, Free Market Institute, and Professor of Economics, Rawls College of Business, Texas Tech University; Senior Fellow, Independent Institute; author Alex Nowrasteh, immigration policy analyst at the Cato Institute; with comments by Neil Ruiz, Executive Director of the Center for Law, Economics, and Finance, George Washington University; moderated by Juan Carlos Hidalgo, Policy Analyst on Latin America, Center for Global Liberty and Prosperity, Cato Institute.
In his new book The Economics of Immigration: Market-Based Approaches, Social Science, and Public Policy, editor and economics professor Benjamin Powell brings together several immigration scholars to discuss how immigrants affect the wages of American workers and government budgets, as well as how they assimilate into American culture. The book also presents different policy recommendations in light of the economic evidence—including proposals for a market in visas, open borders, and cuts in legal immigration. The author and editor will be joined by Neil G. Ruiz, PhD, Executive Director of the Center for Law, Economics, and Finance at George Washington University, who will offer his own comments and criticisms. Please join us as four economists discuss the economic impact of immigration.