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.
Rehabilitating Lochner: Defending Individual Rights against Progressive Reform
(Cato Institute and the University of Chicago Press, 2011)
Featuring the author David E. Bernstein, George Mason University School of Law; with comments by Louis Michael Seidman, Georgetown University Law Center; and Gregory E. Maggs, George Washington University School of Law; moderated by Roger Pilon, Cato Institute.
No Supreme Court decision concerning economic liberty has been more emblematic of the alleged errors of the “old,” pre-New Deal Court than Lochner v. New York, decided in 1905. Upholding contractual freedom against a New York statute that limited the hours that bakers might work, the decision has been reviled by both liberals and conservatives as an egregious example of judicial malfeasance — cited today most often for the prescient dissent of the sainted Justice Oliver Wendell Holmes. Yet the story of Lochner is not over. In a new book that examines the history and background of the case, David Bernstein argues that the decision has been widely misunderstood and unfairly maligned, that it was well grounded in precedent, and that subsequent battles over segregation laws, sex discrimination, civil liberties, and more owe much to the limited-government ideas of Lochner’s proponents. Please join us for what is bound to be a lively discussion about this important new book.