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 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.
The UN Deadline for a New Iraqi Government: Progress, Problems, and Prospects
Featuring Kenneth Allard, Colonel, U.S. Army (Ret.); Charles Peña, Cato Institute; John Hulsman, Heritage Foundation; and Donald Devine, ConservativeBattleline.com.
President Bush has asserted that the violence in Iraq should be seen as a sign of progress because it shows the desperation of those who oppose the U.S.-led occupation. He has also vowed that the United States will stay the course in Iraq. As we pass the UN Security Council deadline for the Iraqi Governing Council to present a timeline for drafting a constitution and holding elections, join us for a discussion of America’s progress in Iraq and prospects for the future. What are the military requirements for suppressing the insurgency? Do military requirements and larger political objectives conflict? Is Iraq any closer to self-government or democracy? How does the U.S. military presence in Iraq make America safer? What is the exit strategy?