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.
Foreign Aid and the Weakening of Democratic Accountability in Uganda
Featuring Andrew Mwenda,
Political Editor, Daily Monitor (Kampala, Uganda), with comments by
Mauro De Lorenzo, Resident Fellow, American Enterprise Institute.
The international aid lobby claims that increased foreign aid will help to solve Africa’s problems. But, as the case of Uganda shows, foreign aid can exacerbate those problems. Foreign aid, Andrew Mwenda writes in a recent Cato study, has provided the Ugandan government with an independent source of revenue that has allowed it to remain unaccountable to Uganda’s citizens. Moreover, aid has enabled the government to pay its bills without having to undertake further necessary economic reforms. The government has wasted much of the aid money on military equipment and political patronage. To promote democracy and accountability, the West should discontinue future aid flows to Uganda.