Featuring Elizabeth Cobbs, Producer and Writer, American Umpire; with comments by Derek Chollet, Counselor and Senior Advisor, Security and Defense Policy, German Marshall Fund; Heather Hurlburt, Director of New Models of Policy Change, New America; and Thomas Wright, Fellow and Director of the Project on International Order and Strategy, Brookings Institution; moderated by Christopher Preble, Vice President for Defense and Foreign Policy Studies, 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.
Tricked on Our Treats: Time to Rethink the U.S. Sugar Program
Featuring Daniel Griswold, Director, Center for Trade Policy Studies, Cato Institute; author, Mad About Trade; and William A. Reinsch, President, National Foreign Trade Council.
For decades, the U.S. government has restricted sugar imports through a system of quotas designed to keep domestic prices artificially high, even though foreign producers can grow and sell sugar at much lower prices. Domestic growers maintain that they need the quotas to protect them from “dumped” imports. Critics argue that the program increases costs for U.S. consumers and hurts domestic confectioners and other sugar-using industries. It also inhibits development abroad by walling off the U.S. market from farmers in Latin America, the Caribbean, and Africa. In a recent letter, the National Foreign Trade Council and other trade organizations urged the Obama administration to consider relaxing the quotas in the face of high global prices and the threat of domestic shortages. Isn’t it time to rethink the U.S. sugar program?