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.
Featuring Harry de Gorter, Visiting Fellow, Cato Institute, and Professor, Department of Applied Economics and Management, Cornell University; Kate McMahon, Biofuels Campaign Coordinator, Friends of the Earth; moderated by Kurt Couchman, Manager of Government Affairs, Cato Institute.
As Congress debates extending biofuel tax credits and the ethanol import tariff, questions are being raised about the broader policy mix that includes subsidies, tariffs, mandates, and sustainability standards. As a recent CBO report revealed, some of these policies — the Volumetric Ethanol Excise Tax Credit (VEETC) in particular — are quite expensive. Although biofuels were once hailed as a panacea to global warming and energy security while helping farmers and generating jobs, recent analysis has shown that some of these policies work contrary to such goals and negatively impact air and water quality, wildlife habitat, and food affordability as well. What does the evidence indicate about energy security and green jobs creation claims? Are there any compelling reasons to subsidize biofuels, or should policymakers simply eliminate such preferences?