Regulating Electronic Money New products are being designed to challenge the use of currency and checks in millions of routine consumer transactions. Again, as in the 1970s, articles are being written and conferences are being held to pronounce the end of paper. They may again prove premature.

Chairman's Message: A Man of Little Visions
President Clinton has proven to be a man of little visions-- dozens of them. He is too prone to substitute compromise for creativity, fiddling for fixing, polling for principle, and symbol for substance. Let me count the ways...	Order Now: New Audio Magazine Hear the brightest ideas in the policy world every month on CatoAudio. Milton Friedman, Richard Epstein, Dick Armey...and more!

Telecommunications in the
21st Century
The rate of technical innovation, driven largely by the microprocessor and laser technologies, is stupendous. We are rapidly approaching an era in which any amount of information, in fact the cumulative knowledge of mankind, can be not only stored efficiently but accessed and transmitted efficiently.

Can Government Change?
After the 1994 elections many observers thought that a downsizing of the federal government was imminent. More than two years later, however, no such downsizing has taken place, and people are wondering if change is impossible.