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 Edward L. Hudgins, The Objectivist Center and Editor, Space: The Free-Market Frontier (Cato Institute 2003); Buzz Aldrin, ShareSpace and Apollo XI Astronaut; James Muncy, PoliSpace; and Courtney Stadd, Chief of Staff, NASA.
As questions are raised about the future of the American space program, it may be an opportune time to reconsider the role of the private sector. Just as private entrepreneurs made personal computers and the Internet accessible to everyone, private enterprise should be given the chance to make space accessible for commerce, science, and recreation. Come hear Cato guest speakers discuss the need for Congress to remove barriers to private space efforts; suggest free-market ways for NASA to spend its funds; and lay out a vision for how to make America a space-faring society as outlined in the Cato Institute book, Space: The Free-Market Frontier.