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.
Congress specifically intended to allow companies to use the H-1B to quickly respond to labor market needs. There are actions, consistent with this intent, that would help American workers compete, but a recruitment rule simply is not one of them.
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 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.
Medicaid and the Long-Term Care Crisis — Who Should Pay?
Featuring Stephen A. Moses, President, Center for Long-Term Care Reform, Inc.
(www.centerltc.org); Vincent J. Russo, Certified Elder Law Attorney, Past President, National Academy of Elder Law Attorneys
(www.russoelderlaw.com); with comments by Michael F. Cannon,
Director of Health Policy Studies, Cato Institute; and moderated by Marilyn Werber Serafini, Health Care Correspondent, National Journal.
Medicaid, the joint federal-state health care program created in 1965 for the poor, is imposing a growing burden on taxpayers. It has grown larger than Medicare, the federal health care program for the elderly, and already accounts for a larger share of state expenditures than elementary and secondary education. Part of that growth is due to many middle-income seniors using Medicaid to pay for nursing home expenses and other long-term care. Those seniors own assets that could cover such expenses for a period of time, either directly or by purchasing long-term care insurance. Should their assets be used to help Congress cut projected Medicaid expenditures? Please join us for a debate that could profoundly affect the future of Medicaid and long-term care.