Jones Act Repeal Bill Introduced

Senator Mike Lee has introduced a bill to repeal the Jones Act. In place since 1920, the Jones Act mandates that goods transported by water between two points in the United States be done by vessels that are U.S.-flagged, U.S.-crewed, U.S.-owned, and U.S.-built. Justified on national security grounds, the law was meant to ensure a strong maritime sector to bolster U.S. capabilities in times of war or national emergency. These envisioned benefits, however, have proved illusory while the Jones Act has imposed a very real and ongoing economic burden. Cato scholars have written extensively on the need to rid ourselves of this antiquated law and chart a new course based on innovation and competition rather than discredited protectionism.

Gullible Superpower: U.S. Support for Bogus Democratic Movements

Over the last forty years, there is a distressing history of foreign insurgent groups being able to manipulate U.S. policymakers and opinion leaders into supporting their cause. Frequently, that support goes far beyond rhetorical endorsements to include financial and even military assistance to highly questionable individuals, organizations, and movements. Gullible Superpower: U.S. Support for Bogus Democratic Movements examines the most prominent cases in which well-meaning Americans have supported such misguided policies, and underscores the need for future U.S. leaders to adopt a policy of skepticism and restraint toward foreign movements that purport to embrace democracy.

Criminal Immigrants in 2017: Their Numbers, Demographics, and Countries of Origin

Since taking office, President Trump has expanded interior immigration enforcement, made it easier for states and local governments to apprehend and detain illegal immigrants, and argued that building a wall is essential to reducing crime. A new brief from Michelangelo Landgrave and Alex Nowrasteh uses American Community Survey data from the U.S. Census to analyze incarcerated immigrants according to their citizenship and legal status in 2017. The data show that all immigrants—legal and illegal—are less likely to be incarcerated than native-born Americans relative to their shares of the population.

New Cato Journal Looks at “Free Range” vs. “Helicopter” Regulating

The technological revolution the financial industry is experiencing now is very exciting. New asset classes like cryptocurrencies and new ways for financial companies to communicate with investors are likely to make our world look very different 10 years from now than it did 10 years ago. In the new issue of Cato Journal, SEC Commissioner Hester Peirce likens the role of a regulator in this environment to that of a parent, and encourages “free range” over “helicopter” regulating. Also in this issue, former Richmond Federal Reserve president Jeffrey M. Lacker discusses H. Parker Willis’s legacy and his impact on the history of the Federal Reserve, while simultaneously arguing that the Fed’s lending authority has since become “more of a hindrance than a help.”

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Freedom: Art as the Messenger

The Cato Institute welcomes artists working in any medium to address the concept of Freedom: Art as the Messenger. We are living in an era where people are finding their combative voice but having little conversation or dialogue. The goal of this inaugural exhibition is to provide a medium for that conversation.

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The Jones Act: Charting a New Course after a Century of Failure

For nearly 100 years the Jones Act has restricted the transportation of cargo between two points in the U.S. to ships that are U.S.-built, crewed, owned, and flagged. Meant to bolster the U.S. maritime industry, the Act has instead led to a steady deterioration in the number of ships, sailors, shipyards, and has imposed large economic burdens. This full-day conference examined the Act in greater detail and evaluated options for reform.