![Cato Journal - v40n1 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2020-02/cato-journal-v40n1-cover.png?itok=pCx7EksI) 

# Winter 2020 

Vol. 40 No. 1 

##### Articles 

#### [Freedom and Authority: “Right-Sizing” Government ](/cato-journal/winter-2020/freedom-authority-right-sizing-government)

By John Norton Moore 

#### [The U.S.-China Trade War: Is There an End in Sight? ](/cato-journal/winter-2020/us-china-trade-war-there-end-sight)

By [Simon Lester](https://www.cato.org/people/simon-lester) and Huan Zhu 

Donald Trump was a trade “hawk” long before he became president. In the late 1980s, he went on the Oprah Winfrey show and complained about Japan “beating the hell out of this country” on trade ([Real Clear Politics 2019](https://redesign.cato.org/cato-journal/winter-2020/us-china-trade-war-there-end-sight#ref016)). As president, he has continued with the same rhetoric, using it against a wide range of U.S. trading partners, and he has followed it up with action (often in the form of tariffs).

#### [Tariffs and Monetary Policy: A Toxic Mix ](/cato-journal/winter-2020/tariffs-monetary-policy-toxic-mix)

By Michael D. Bordo and Mickey D. Levy 

#### [Money Market Turmoil ](/cato-journal/winter-2020/money-market-turmoil)

By Allan M. Malz 

#### [On Targeting the Price of Gold ](/cato-journal/winter-2020/targeting-price-gold)

By [George Selgin](https://www.cato.org/people/george-selgin) 

#### [Real and Pseudo Gold Price Rules ](/cato-journal/winter-2020/real-pseudo-gold-price-rules)

By Richard M. Salsman 

#### [A Fresh Look at Central Bank Independence ](/cato-journal/winter-2020/fresh-look-central-bank-independence)

By Paul Wachtel and Mario I. Blejer 

#### [The Phillips Curve: A Poor Guide for Monetary Policy ](/cato-journal/winter-2020/phillips-curve-poor-guide-monetary-policy)

By [James A. Dorn](https://www.cato.org/people/james-dorn) 

#### [The Transportation-Communication Revolution: 50 Years of Dramatic Change in Economic Development ](/cato-journal/winter-2020/transportation-communication-revolution-50-years-dramatic-change-economic)

By Joseph Connors, [James D. Gwartney](https://www.cato.org/people/james-gwartney), and Hugo M. Montesinos 

#### [The Effect of War on Economic Growth ](/cato-journal/winter-2020/effect-war-economic-growth)

By Clifford F. Thies and Christopher F. Baum 

#### [Frederick Douglass and the American Dream ](/cato-journal/winter-2020/frederick-douglass-american-dream)

By [Timothy Sandefur](https://www.cato.org/people/timothy-sandefur) 

##### Book Reviews 

##### [*Austerity: When It Works and When It Doesn’t* by Alberto Alesina, Carlo Favero, and Francesco Giavazzi](/cato-journal/winter-2020/austerity-when-it-works-when-it-doesnt-alberto-alesina-carlo-favero)

By Edoardo Beretta 

##### [*Bleeding Out: The Devastating Consequences of Urban Violence and a Bold New Plan for Peace in the Streets* by Thomas Abt](/cato-journal/winter-2020/bleeding-out-devastating-consequences-urban-violence-bold-new-plan-peace)

By [Jonathan Blanks](https://www.cato.org/people/jonathan-blanks) 

##### [*The Once and Future Worker: A Vision for the Renewal of Work in America* by Oren Cass](/cato-journal/winter-2020/once-future-worker-vision-renewal-work-america-oren-cass)

By [Daniel Griswold](https://www.cato.org/people/daniel-griswold) 

##### [*A Century of Federal Reserve Monetary Policy: Issues and Implications for the Future* by Thomas R. Saving](/cato-journal/winter-2020/century-federal-reserve-monetary-policy-issues-implications-future-thomas)

By Peter Ireland 

##### [*The Privileged Poor: How Elite Colleges Are Failing Disadvantaged Students* by Anthony Abraham Jack](/cato-journal/winter-2020/privileged-poor-how-elite-colleges-are-failing-disadvantaged-students)

By Catherine Straus 

##### Latest Issues 

[![Cato Journal - v41n3 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2021-10/cj-v41n3-cover-img.jpg?itok=5oFdtHHE)](https://www.cato.org/cato-journal/fall-2021) 

[Fall 2021](/cato-journal/fall-2021)

[![Cato Journal - v41n2 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2021-05/cj-v42n2-cover.jpg?itok=Gsu0q9wJ)](https://www.cato.org/cato-journal/spring/summer-2021) 

[Spring/​Summer 2021](/cato-journal/spring/summer-2021)

[![Cato Journal - v41n1 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2021-01/Cover.jpg?itok=FSh0s6W_)](https://www.cato.org/cato-journal/winter-2021) 

[Winter 2021](/cato-journal/winter-2021)

[![Cato - Fall 2020 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2020-09/cj-v40n3-cover.jpg?itok=9jXN2iCd)](https://www.cato.org/cato-journal/fall-2020) 

[Fall 2020](/cato-journal/fall-2020)