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.
You Can Fight City Hall: Ending the District of Columbia’s Gun Ban
Featuring Robert Levy, Senior Fellow in Constitutional Studies, Cato Institute; and Gene Healy, Senior Editor, Cato Institute.
For more than a quarter-century, the District of Columbia government has enforced one of the most draconian gun control regimes in the nation — effectively forbidding D.C. residents from keeping functional firearms within their own homes. Yet violent criminals continue to carry guns, and the law-abiding citizens whom the District has disarmed are at their mercy. Recently, six District residents brought suit in federal court seeking to vindicate their Second Amendment rights. Please join us to hear from two of their attorneys on the meaning of the Second Amendment, the theory behind the lawsuit, and the prospects for success.