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.
Here We Go Again: Congress Attempts to Outlaw Spyware
Featuring Jim Harper, Director of Information Policy Studies, Cato Institute and Orson Swindle, Commissioner, Federal Trade Commission.
Without doubt, computer “spyware” is a serious problem. Just like spam, this Internet pathology frustrates consumers and costs time and money. What should the information technology industry do? What should Congress do? Though well-intentioned, proposals to outlaw spyware may be no more effective than the CAN-SPAM law. Proposed anti-spyware laws may divert attention from technological solutions, put federal bureaucrats in charge of software design, and suppress future innovation. Please join us for a briefing on Internet and software regulation, including alternatives that may be better for consumers.