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.
Restoring Limited Constitutional Government Starts with Congress
Featuring Rep. Scott Garrett (R-NJ), Founder and Chairman, Congressional Constitution Caucus; and Roger Pilon, Vice President for Legal Affairs, and Director, Center for Constitutional Studies, Cato Institute; moderated by Brandon Arnold, Director of Government Affairs, Cato Institute.
With the 112th Congress now in session, the Constitution is finding new respect on Capitol Hill. It started during the campaign, thanks to pressure from the Tea Party. It was reflected when members in the House read the Constitution aloud on their first full day in session. And it should continue as House members are required to cite specific constitutional authority when they introduce bills. But restoring limited constitutional government will require more than simply “checking the box” — it will require a solid understanding of the document and an ability to withstand the ever-present pressure to abandon principle in favor of short-term gain. Please join us for a detailed discussion of how constitutional principle and practice go together.