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.
Lies, Damned Lies, and Drug War Statistics: A Critical Analysis of Claims Made by the Office of National Drug Control Policy
Featuring the authors: Matthew B. Robinson, Associate Professor of Criminal Justice, Appalachian State University and Renee G. Scherlen, Associate Professor of Political Science, Appalachian State University; with comments by Dr. David Murray, Senior Policy Analyst, Office of National Drug Control Policy; moderated by Timothy Lynch, Director, Project on Criminal Justice, Cato Institute.
Each year the Office of National Drug Control Policy publishes a report called The National Drug Control Strategy. Those reports are supposed to provide information about trends in drug use and assess federal programs that are aimed at reducing the supply of and demand for illegal drugs. Policymakers rely on that information in making budget decisions and holding executive branch agencies accountable. Matthew B. Robinson and Renee G. Scherlen conducted an independent review of those reports, and their research found numerous instances in which information was distorted to justify continuing the war on drugs. Join us for a discussion of the use and abuse of statistics and of policy recommendations for changing the federal approach to problems associated with drug use.