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 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.
National Education Standards: Hopeful Change or Hollow Promise?
Featuring Sandra Boyd, Vice President, Strategic Communications and Outreach, Achieve, Inc.; Lindsey Burke, Policy Analyst, Heritage Foundation; Michael Petrilli, Vice President for National Programs & Policy, Thomas B. Fordham Institute; and Neal McCluskey, Associate Director, Center for Educational Freedom, Cato Institute; moderated by Adam Schaeffer, Policy Analyst, Center for Educational Freedom, Cato Institute.
With the Common Core State Standards Initiative likely to release the final version of its English and mathematics standards in early June, and states having to decide whether or not to adopt them, a crucial question has been neglected in the public policy debate: Is there good reason to believe that national standards will improve educational outcomes? Please join us for a discussion of the logic behind, and evidence on, national education standards, at this pivotal moment in the history of American education.