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.
Liberalism and Cronyism: Two Rival Political and Economic Systems
Featuring the authors Randall G. Holcombe, DeVoe Moore Professor of Economics, Florida State University; and Andrea M. Castillo, Program Associate, Mercatus Center; with comments by Timothy P. Carney Visiting Fellow, American Enterprise Institute and Senior Political Columnist, Washington Examiner; moderated by Dalibor Rohac; Policy Analyst, Center for Global Liberty and Prosperity, Cato Institute.
A leading justification for the growth of government is the supposed need to control the power of big business and to spread the benefits of the liberal economic order to the greatest possible number of beneficiaries. However, according to Randall Holcombe and Andrea Castillo, the expansion of government results in a different concentration of power: cronyism, in which some people — typically the wealthy and the politically well-connected — have access to privileges that are denied to the rest of the population. Please join us for a discussion of real-world manifestations of big-government cronyism, ranging from central planning to environmentalism and industrial policy, and an exploration of how they invariably enable small groups of individuals — the cronies — to gain at the expense of everyone else.