Steve H. Hanke, senior fellow and director of Cato’s Troubled Currencies Project, has been made a Knight of the Order of the Flag by decree of Ilir Meta, president of Albania. He is only the second American to receive this honor. In the commendation, Meta explained that Hanke “introduced and implemented the principles of market economy and sound money to the post-Communist Republic.” From 1990 to 2018, Albania rose from 88th to 26th in the Economic Freedom of the World index.
CMFA WELCOMES NEW
Cato welcomes Jennifer J. Schulp as the new director of financial regulation studies in the Center for Monetary and Financial Alternatives. Before joining Cato, Schulp was a director in the department of enforcement at the Financial Industry Regulatory Authority, Inc. (FINRA). At Cato, she will focus on the regulation of securities and capital markets.
WORD OF THE DAY
Merriam-Webster’s Collegiate Dictionary selected “cronyism” as its word of the day for September 16, 2020, defined as “partiality to cronies especially as evidenced in the appointment of political hangers-on to office without regard to their qualifications.” To provide an example of the term’s usage, the esteemed dictionary cited Lee Drutman’s lead article in the July/August 2020 issue of Cato Policy Report.