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.
The Power of Productivity: Wealth, Poverty, and the Threat to Global Stability
Featuring the author William W. Lewis, Director emeritus, McKinsey Global Institute; with comments by Simon Johnson, Professor, MIT Sloan School of Management, and Research Department Assistant Director, International Monetary Fund; moderated by Ian Vásquez, Director, Cato Institute Project on Global Economic Liberty.
Even after the 1990s, when much of the world seemed to finally embrace market-oriented policies, there is a lack of understanding about what makes nations grow. William Lewis spent a dozen years studying how firms in the formal and informal economy operate in countries around the world. He will explain why the key to improving economic conditions in poor countries is to increase competition. Removing internal barriers to growth will raise productivity, the factor that accounts for large differences in wealth, including wealth among rich countries. Simon Johnson will assess Lewis’s insights on the impact of regulation, taxes, and size of government on productivity in countries as diverse as Brazil, Germany, Russia, and the United States.