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.
Future Imperfect: Technology and Freedom in an Uncertain World
David Friedman, author of such books as The Machinery of Freedom and Hidden Order: The Economics of Everyday Life, now looks at a variety of technological revolutions that might happen over the next few decades, their implications, and how to deal with them. Topics range from encryption and surveillance through biotechnology and nanotechnology to life extension, mind drugs, virtual reality, and artificial intelligence. One theme of the book is that the future is radically uncertain. Technological changes already begun could lead to more or less privacy than we have ever known, freedom or slavery, effective immortality or the elimination of our species, and radical changes in life, marriage, law, medicine, work, and play. “If it can be done, it will be done,” David Friedman has said. “So the interesting thing to me is not what should you stop but how do you adapt.” We do not know which future will arrive, but it is unlikely to be much like the past. It is worth starting to think about it now.