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.
Featuring the author, James Bartholomew, columnist for the Daily Telegraph and the Daily Mail; with comments by Dr. Wendell Primus, Senior Policy Advisor on Budget and Health Issues to Speaker Nancy Pelosi. Moderated by
Michael Tanner, Senior Fellow, Health and Welfare Studies, Cato Institute.
“A splendid book. A devastating critique of the welfare state. A page-turner, yet also extensively sourced. I congratulate Mr. Bartholomew.” – Milton Friedman
In this controversial book, James Bartholomew argues that the welfare state in Britain has resulted in a generation of badly educated and dependent citizens, leading to lives of deprivation for thousands and undermining the original intent behind its creation in the 1940s. Has the welfare state really led to more harm than good? What does this imply for the ever-expanding welfare state in the United States?