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.
Featuring Christopher Preble, Vice President for Defense and Foreign Policy Studies, Cato Institute; Russell Rumbaugh, Director, Budgeting for Foreign Affairs and Defense Program, Stimson Center; Laura Peterson, Senior Policy Analyst, Taxpayers for Common Sense; moderated by Laura Odato, Manager of Government Affairs, Cato Institute.
The Obama administration plans to spend $7.6 billion in the coming year on nuclear weapons, but that does not reflect the full cost of maintaining and operating the nation’s nuclear arsenal. There is additional spending for nuclear nonproliferation and for nuclear reactors. And the military spends many billions more on multiple delivery platforms: bombers, missiles, and submarines. How much of this spending is necessary for U.S. national security? Could the United States maintain a credible deterrent with a smaller, less expensive force? Join us for a discussion with national security and budget experts who will discuss nuclear-weapons spending in the current budget and explore plans for the nation’s nuclear arsenal.
The Cato Institute gratefully acknowledges the support of the Ploughshares Fund in helping make this event possible.