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.
Featuring the authors Wayne Leighton, Professor of Economics, Francisco Marroquin University, Guatemala; and Edward Lopez, BB&T Distinguished Professor of Capitalism at Western Carolina University; with comments by Fred Smith, Founder and Chairman, Competitive Enterprise Institute; moderated by Ian Vásquez, Director, Center for Global Liberty and Prosperity, Cato Institute.
What causes policy reform? And why do policies that impose net costs on society persist in democracies for long periods of time even though better alternatives are available and well known? Authors Wayne Leighton and Edward Lopez will explain what scholarship and the real world tell us about making change happen. Using examples from the United States, they will describe how ideas, rules, and incentives interact and how intellectual and policy entrepreneurs find ways of changing society’s institutions — for better and for worse. Fred Smith will comment on the authors’ prescriptions for setting up good rules and their upbeat outlook for advancing reform.