Featuring William P. Ruger, Vice President of Policy and Research, Charles Koch Institute; Jason Sorens, Lecturer, Department of Government, Dartmouth College; moderated by Peter Russo, Director of Congressional Affairs, Cato Institute.
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.
The Transition from Communism 25 Years after the Fall of the Berlin Wall: Lessons for Non-Free Societies
Featuring Oleh Havrylyshyn, Department of Economics, George Washington University and University of Toronto; Peter Murrell, Mancur Olson Professor, Department of Economics, University of Maryland; Krassen Stanchev, Executive Director, Institute for Market Economics, Bulgaria; Dalibor Rohac, Policy Analyst, Center for Global Liberty and Prosperity, Cato Institute; Andrei Illarionov, Senior Fellow, Center for Global Liberty and Prosperity, Cato Institute; Mikheil Saakashvili, Former President, Republic of Georgia; moderated by Marian L. Tupy, Senior Policy Analyst, Center for Global Liberty and Prosperity, Cato Institute; and Ian Vasquez, Director, Center for Global Liberty and Prosperity, Cato Institute.
Following the fall of the Berlin Wall on November 9, 1989, communist governments crumbled throughout the Soviet bloc. By late December 1991, the Soviet Union itself ceased to exist. The pace of transition from communist dictatorship to democracy and market economics was uneven. Some countries experienced high rates of economic growth and rapid return to political freedom, while others remained stuck in poverty and authoritarianism. Which reforms worked and which did not? What were the pre-conditions for a successful transformation and what lessons can non-free societies learn from the experiences of former communist countries?
Marian L. Tupy
Senior Policy Analyst, Center for Global Liberty and Prosperity, Cato Institute
Panel 1: Economic Transition In Ex-Communist Countries: What Have We Learned from Different Approaches To Reforms?