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 War on the Bill of Rights and the Gathering Resistance
Featuring the author Nat Hentoff, Columnist, Village Voice; with comments by Paul Rosenzweig, Senior Research Fellow, Center for Legal and Judicial Studies, The Heritage Foundation.
In his new book, Nat Hentoff decries the federal government’s assault on the civil liberties of Americans in the aftermath of the 9-11 terrorist attacks. Patriot I, Patriot II, Operation TIPs, and the Total Information Awareness System share one common objective: increased domestic surveillance, with minimal judicial supervision. Hentoff also chronicles the rise of citizens’ groups that have been protesting government encroachment. Although there has been little coverage in the major media, “Bill of Rights Defense Committees” have now spread to nearly one hundred cities and towns nationwide. Please join us for a discussion of how the federal government has been responding to the threat posed by al-Qaeda and other terrorist groups.