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.
Featuring John R. Graham, Director of Health Care Studies, Pacific Research Institute and Michael F. Cannon, Director of Health Policy Studies, Cato Institute.
Although many people throughout the world consider America a bastion of free-market medicine, most Americans lack the freedom to control the most basic decisions about their health care. Observers also fail to appreciate how that freedom varies from state to state and how each state can learn from the successes (and failures) of the others. John R. Graham of the San Francisco–based Pacific Research Institute has compiled an “Index of Health Ownership” to highlight that variation and to explain why Utah residents have the most – and New Yorkers the least – control over their health care. Please join us for a presentation of that paper and its findings with comments by Michael Cannon.rn