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.
Making Coverage Affordable through a Nationwide Marketplace for Health Insurance
Featuring Rep. John Shadegg (R-AZ); Michael O’Grady, HHS; and Tom Miller, Joint Economic Committee.
Thousands of federal and state regulations govern the sale of health insurance, restricting who may buy coverage, which benefits must be included, and how coverage is priced. These regulations – which vary widely by state – drive up the cost of health insurance and increase the number of uninsured. An innovative solution to the problem exists: allow people to buy coverage regulated in any state they choose (not just their own). Consumers could shop for the level of coverage they want at a price they can afford, insurers could compete for their business, and states would move to reduce onerous regulations. The panelists will examine the potential bonuses and pitfalls of legislation to enable a nationwide marketplace for health insurance, what the states can do to help, and how consumers would be empowered by a broader marketplace.