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.
Willing Workers: How to Fix the Problem of Illegal Immigration
Featuring Rep. Jeff Flake, (R–AZ); and Dan Griswold, Associate Director, Center for Trade Policy Studies, Cato Institute.
On the heels of legislation proposed by Reps. Jeff Flake and Jim Kolbe and Sen. John McCain, President Bush earlier this month announced the most ambitious plan in decades to revamp the nation’s immigration laws. Many of the ideas in the president’s proposal were put forth in a study by Cato’s Dan Griswold. The president’s plan would create a legal channel for foreign workers to enter the United States temporarily to fill jobs that American-born workers don’t want and grant temporary legal status to millions of workers living and working here illegally. Come hear an in-depth discussion of the president’s immigration plan by one of the cosponsors of the reform legislation and the author of the Cato study.