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.
The Next Big Thing in Copyright? The Induce Act and Contributory Liability
Featuring David Green, MPAA; Markham Erickson, NetCoalition; Gigi Sohn, Public Knowledge; Mitch Glazier, RIAA; and Adam Thierer, Cato Institute.
Copyright law has many complexities, including the issue of contributory liability for copyright infringement. The newly proposed Induce Act would hold peer-to-peer (P2P) providers and portable media device manufacturers liable for copyright infringement if they are found to have induced, aided, or abetted copyright violations by others. What impact would the Induce Act have on the Internet and consumer electronics market? What role should contributory liability play in the future of copyright law? How much responsibility do middlemen bear for policing their networks for “piracy”? And should technology manufacturers be held liable for acts of infringement committed with their devices? Those issues will be discussed by a diverse panel of copyright experts.