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.
Money, Greed, and God: Why Capitalism Is the Solution and Not the Problem
The fall of communism conclusively demonstrated that capitalism is the better economic system. Free markets are unsurpassed in their ability to provide material bounty, but in the aftermath of the economic crisis some ask, are they moral? Even Pope Benedict is said to have retreated from his predecessor’s strong support for the market economy in the latest papal encyclical, Caritas in Veritate.
Jay Richards takes on the critics of capitalism in his new book, Money, Greed, and God: Why Capitalism Is the Solution and Not the Problem. He argues that markets, though imperfect, are a natural outgrowth of God’s creation and an important tool for helping the poor and disadvantaged. Commenting on Richards’ presentation is Cato Institute Senior Fellow Doug Bandow, also the author of Beyond Good Intentions: A Biblical View of Politics. Moderating the discussion is Daniel Griswold, the Cato Institute’s director of the Center for Trade Studies.