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.
The Korean War, Sixty Years On: Whither the U.S.-South Korean Alliance and Relations with North Korea
Featuring H. E. Ahn Ho-Young, South Korean Ambassador to the United States; Scott Snyder, Senior Fellow for Korea Studies and Director of the Program on U.S.-Korea Policy, Council on Foreign Relations; and Doug Bandow, Senior Fellow, Cato Institute, Author of Tripwire: Korea and U.S. Foreign Policy in a Changed World; moderated by Christopher Preble, Vice President for Defense and Foreign Policy Studies, Cato Institute.
The Korean War ended six decades ago, but so far hopes for reform and liberalization in North Korea have been frustrated. On the 60th anniversary of the signing of the armistice, South Korea’s ambassador to the U.S. will address the future of the U.S.-South Korean alliance, which also turns 60 this year. Two Korea experts will follow with commentary on relations between Washington and Seoul, as well as appropriate policy towards Pyongyang. Should America pursue more intense involvement or turn the North Korean “problem” over to its neighbors, including China?