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.
What America Can Learn from School Choice in Other Countries
Featuring Lewis Andrews, Yankee Institute for Public Policy; Andrew Coulson, Mackinac Center; John Merrifield, University of Texas—
San Antonio; with comments by Patrick Wolf, Georgetown University; and moderated by David Salisbury, Cato Institute
Its opponents like to portray school choice as a radical and untested gamble with our children’s futures. They might be surprised, however, to learn that school choice is an established reality in other countries. Chile, Sweden, and the Netherlands are among several countries that allow parents freedom to choose the kind of school that is best for their own children. In a new Cato book, scholars examine other countries’ experiences with school choice and draw out the critical lessons for America. Please join us for a discussion of the book with several of the contributors. Patrick Wolf, author of Educating Citizens: International Perspectives on Civic Values and School Choice, will offer additional insights and observations about school choice policies in other countries.