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.
Featuring Welile Nhlapo, South African Ambassador to the United States; J. Daniel O’Flaherty, Vice President, National Foreign Trade Council; Tom Woods, Former Deputy Assistant Secretary of State for Africa; Moderated by Marian Tupy, Policy Analyst, Center for Global Liberty and Prosperity, Cato Institute.
On April 22, South Africa will hold its fourth general election since the advent of multiracial democracy in 1994 and first general election since the break-up of the once-hegemonic African National Congress. Will a strong showing by the new party-the Congress of the People-reduce the ANC’s majority, reinvigorate the opposition, and make the government more accountable? Or will it lead the ANC to embrace more populist economic policies in an effort to regain the loyalty of its former supporters? Please join us for a discussion of the likely effects of this pivotal election on the future of sub-Saharan Africa’s most powerful nation.