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 authors Jeb Bush, Former Governor of Florida; and Clint Bolick, Director, Scharf-Norton Center for Constitutional Litigation, Goldwater Institute; moderated by Alex Nowrasteh, Immigration Policy Analyst, Cato Institute.
This event has been canceled due to inclement weather.
Jeb Bush and Clint Bolick argue in their new book that the three broad components of immigration reform — better immigration enforcement, a lawful pathway for future migrants, and the legalization of current unauthorized immigrants — must work together to produce a viable immigration policy. Our immigration law is 60 years old and has been patched over so many times that it is hopelessly complex and contradictory. Recent reform attempts have failed both because of lack of political courage and a refusal to scrap the current system in favor of one that meets our growing immigration needs in the 21st century, they argue. Immigration reform must produce an easily enforceable law that allows the world’s best, brightest, and most industrious a chance to contribute to the American economy.