RSS News Releases The Cato Institute seeks to broaden the parameters of public policy debate to allow consideration of the traditional American principles of limited government, individual liberty, free markets and peace. Toward that goal, the Institute strives to achieve greater involvement of the intelligent, concerned lay public in questions of policy and the proper role of government. en Rob Taylor Joins Cato Institute Board of Directors <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="lead mb-3 spacer--nomargin--last-child text-default"> <p>Washington, D.C. – The Cato Institute Board of Directors, in a&nbsp;meeting held earlier this week, elected Robert A. (“Rob”) Taylor, CEO of EBC Management, as a&nbsp;new director.</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>“Rob and his family have been members of the Cato community for a&nbsp;long time, but it’s a&nbsp;special pleasure to welcome someone with his passion and energy to our Board of Directors,” said Peter Goettler, President and CEO of the Cato Institute. “Rob and I&nbsp;have a&nbsp;common vision that’s at the heart of Cato’s work: those of us who have lived in freedom have a&nbsp;special responsibility to preserve liberty and the American dream for future generations.”</p> <p>Prior to founding EBC, Taylor worked 22&nbsp;years at Harris Associates, a&nbsp;Chicago‐​based investment firm founded in 1976, serving as a&nbsp;partner since 2003.</p> <p>Taylor served as the Director of International Research at Harris for over a&nbsp;decade. In addition, from 2005 until his retirement in 2016, Taylor was co‐​portfolio manager for the Oakmark Global Fund, and from 2008 also co‐​managed the Oakmark International Fund.</p> <p>Rob and his wife, Jamie, have been active with the Cato Institute for more than 10&nbsp;years, with a&nbsp;special interest in education reform and school choice.</p> <p>“I am very excited to work with the incredible team at the Cato Institute and help promote its mission. The pursuit of individual liberty and limited government are so important, especially given the current environment of less freedom and increased government overreach” said Taylor.</p> <p>Taylor earned his BBA from the University of Wisconsin‐​Madison. He and family reside in Winnetka, Ill.</p> </div> Fri, 22 May 2020 16:35:09 -0400 Cato Vice President Named to Facebook Oversight Board <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="lead mb-3 spacer--nomargin--last-child text-default"> <p>Washington, D.C. – <a href="" rel="noopener noreferrer" target="_blank">John Samples</a>, vice president of the Cato Institute, has been named to an independent oversight board, Oversight Board LLC, charged with hearing appeals of content moderation decisions made by Facebook and Instagram.</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Facebook originally <a href="" rel="noopener noreferrer" target="_blank">announced plans</a> for an oversight board in 2018, and today named <a href="">members and co‐​chairs of the panel</a>.<br><br> “It is a&nbsp;tribute to John’s work on free speech in the digital age that he has been selected to serve on the board,” said Peter Goettler, Cato’s president and CEO. “Creation of this board may have generated controversy in some circles, but we believe it is an effort to achieve important objectives. First, by establishing the board, Facebook is affirming that content moderation on private platforms should be executed by those platforms, and not the government. Second, Facebook’s selection of a&nbsp;First Amendment advocate such as John for membership gives us hope that the board will maintain strong support for free expression.”<br><br> Samples, who has worked on First Amendment, public opinion, and representative government policies for 20&nbsp;years at Cato, will join a&nbsp;group of 20 international experts on the board, which will have the ability to overrule Facebook’s <a href="" rel="noopener noreferrer" target="_blank">own decisions</a> concerning content.<br><br> “Facebook is giving users a&nbsp;way to appeal its content moderation decisions,” said Samples. “The board is charged with making sure such decisions agree with Facebook’s values and community standards. Facebook has said ‘voice’ is its paramount value, so I&nbsp;envision that the board will advance the cause of free speech in the digital era.”<br><br> Samples also expressed confidence that the geographical and ideological diversity of the board will guard against political bias.<br><br> Samples has been living in Northern California for the last year, working on issues related to social media and speech regulation, which he first explored in a&nbsp;<a href="" rel="noopener noreferrer" target="_blank">2019 white paper</a>.<br><br> Facebook will fully fund the board’s operations, and the board’s code of conduct, charter and bylaws will ensure its complete independence and redress any conflicts of interest. Facebook management will be able to ask the board for policy advice but will not have a&nbsp;voice in cases the board and its staff choose to review or in the review process itself.</p> <p>“Community standards that determine inappropriate content have been in use at Facebook for the last several years, so we are not starting from scratch on that front,” said Samples. “The oversight board will be seeking to make an existing process more consistent, transparent, and independent.” <br><br> For more information on the board and how it will determine what cases it reviews, please see <a href="">Facebook’s announcement</a>.</p> </div> Wed, 06 May 2020 12:55:00 -0400 Cato Calls on Congress to Investigate Possible FBI Surveillance of Domestic Policy Groups <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> <p>Fresh evidence uncovered through Freedom of Information Act (FOIA) requests made by a&nbsp;Cato Institute scholar reveals the need for Congress to launch an aggressive investigation into FBI domestic surveillance practices.<br><br><a href="" rel="noopener noreferrer" target="_blank">Patrick Eddington</a>, a&nbsp;research fellow at Cato, has filed numerous FOIA requests with the Department of Justice (DOJ) since April of last year. In more than 20 cases, the DOJ refused to confirm or deny whether the FBI is collecting national security or intelligence records on specific domestic organizations, including media outlets, immigration policy groups, and organizations dedicated to upholding the Bill of Rights.<br><br> “This type of response raises the troubling possibility that certain domestic public policy and advocacy groups may have been targeted for unconstitutional surveillance or information gathering by federal authorities,” said Eddington.<br><br> The Cato Institute is among the 23 organizations that may have been targeted for surveillance or other data collection. Others include Kids in Need of Defense, the Transgender Law Center, the Reason Foundation, the Campaign for Liberty, and Restore the Fourth.<br><br> “Had we received such responses for every FOIA request submitted on a&nbsp;domestic organization, we might assume that DOJ was trying to narrow the scope of the FOIA or to frustrate broadly the spirit of the law,” said Eddington. “To date, however, the responses have been selective.”<br><br> Federal law enforcement and intelligence agencies have used the “neither confirm nor deny” response — known as a “<a href="" target="_blank">Glomar</a>” — in the past to conceal surveillance, intelligence gathering, or even combat activities. Courts have generally supported agency use of such responses when the issues involve a&nbsp;foreign intelligence or foreign policy activity.<br><br> Federal courts have been less willing to support Glomar invocations in a&nbsp;domestic law enforcement context. Last year, the Reporters Committee for Freedom of the Press won its case against the FBI for its use of Glomar to try to conceal its tactic of impersonating news crews to gather information.<br><br> “Courts have yet to define the extent to which the FBI or any other federal agency can refuse to confirm or deny surveillance or data accumulation activities in connection with a&nbsp;domestic group or a&nbsp;media organization,” said Eddington. “But regardless, no federal agency should be collecting data on any domestic groups on the basis of constitutionally protected activities.”<br><br> Eddington is sharing the FOIA responses he received with the organizations in question. As this domestic surveillance mapping project continues, additional results will be reported when available.<br><br> “A Glomar response is particularly offensive to the spirit of FOIA, as it asserts a&nbsp;privilege of secrecy not only covering the substance of a&nbsp;federal agency’s activities, but even the fact of those activities,” said Eddington. “In light of other recent revelations about federal surveillance activities targeting various domestic groups, the need for aggressive congressional investigation of these matters is more urgent than ever.”</p> </div> Tue, 07 Jan 2020 13:47:31 -0500 The Cato Institute Launches Project Investigating California’s Efforts to Address Inequality and Poverty <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>The <a href="">Cato Institute</a> is launching a&nbsp;new project that critically evaluates California’s efforts to address inequality and poverty.</p> <p>The two‐​year‐​long project will analyze various laws, rules, and regulations currently in effect in the state to determine whether these policies are truly helping residents move up the economic ladder and out of poverty.</p> <p>The project continues research started by senior fellow <a href="">Michael Tanner</a> for his book <a href="" target="_blank"><em>The Inclusive Economy: How to Bring Wealth to America’s Poor</em></a>, published by the Cato Institute late last year.</p> <p>“What I&nbsp;found in writing the book was that our current efforts have been focused on the mere alleviation of poverty, making sure that the poor have food and shelter,” said Tanner. “That is a&nbsp;necessary part of anti‐​poverty work, but it is far from sufficient. To be effective, anti‐​poverty programs should seek not just to alleviate poverty’s symptoms, but to eradicate the disease itself.”</p> <p>Tanner says that doing a&nbsp;thorough analysis of what works and what doesn’t in California could provide important information to California policy makers, as well as valuable insights to other states as they work to address similar problems.</p> <p>“While many Americans think of California in terms of Silicon Valley, Hollywood, and Beverly Hills, the state actually has the highest poverty rate in the country,” said Tanner. “California is frequently held up as a&nbsp;potential economic model for the nation. But when it comes to fighting poverty and inequality, the Golden State has fallen short.”</p> <p>The Project on Poverty and Inequality in California will investigate the impact that the state’s policies have had in five critical areas:</p> <ul><li><strong>Criminal Justice:</strong> Over‐​criminalization, sentencing disparities, treatment of ex‐​offenders, and bias are problems for all levels of society, but have a&nbsp;disproportionate impact on the poor.</li> <li><strong>Education:</strong> California’s public schools lag behind other states. Improvement has been slow and systemic gaps between students of different socioeconomic backgrounds can reinforce, rather than reverse, disadvantages faced by poor students.</li> <li><strong>Housing:</strong> The poor spend a&nbsp;disproportionate share of their income on housing. California has some of the nation’s most costly and restrictive zoning and land use laws, which further drive up the cost of housing.</li> <li><strong>Savings:</strong> Asset tests for welfare programs encourage consumption and discourage savings. California eligibility requirements for a&nbsp;variety of welfare programs need to be examined in light of the incentives they create.</li> <li><strong>Regressive regulation:</strong> Regulatory barriers to getting a&nbsp;job or starting a&nbsp;business can block people from fully participating in the economy. Occupational licensing, zoning, environmental regulation, and high minimum wage requirements can inhibit small business development and growth and leave those wanting to work locked out of the labor force.</li> </ul><p>Tanner plans extensive visits to California to meet with stakeholders, including state‐​level elected officials, interest groups, and individuals who are affected by current policy.</p> <p>This research is being made possible in part by a&nbsp;generous grant from David L. Steffy, a&nbsp;healthcare entrepreneur and philanthropist, through the Orange County Community Foundation.</p> </div> Mon, 17 Jun 2019 10:30:00 -0400 Cato’s Center for Monetary and Financial Alternatives Introduces Initiative for Financial Inclusion <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C. —&nbsp;</strong>The Cato Institute’s&nbsp;<a href=""><strong>Center for Monetary and Financial Alternatives</strong></a> is launching a&nbsp;new initiative to help educate policymakers and the public on how innovation can expand access to financial services and bolster consumer protections.</p> <p>The Initiative for Financial Inclusion will also promote regulatory modernization — identifying financial regulations that prevent some communities from fully participating in the economy.</p> <p>“Consumer finance is at a&nbsp;crossroads,” said&nbsp;<a href=""><strong>Todd Zywicki</strong></a>, a&nbsp;senior fellow at Cato. “Technology is changing how households save, borrow, invest, and pay for everyday needs. But not everyone is able to take advantage of these expanded financial choices, thanks to ill‐​advised regulations and government intervention.”</p> <p>Zywicki, also a&nbsp;distinguished law professor at George Mason University, will lead the Initiative with Cato policy analyst&nbsp;<a href=""><strong>Diego Zuluaga</strong></a>&nbsp;to deliver robust legal and economic policy research on topics ranging from student loans and small‐​dollar credit to faster payment methods, increased savings opportunities, cryptocurrencies, and&nbsp;<a href=""><strong>regulatory sandboxes</strong></a>.</p> <p>Zywicki and Zuluaga’s efforts will be enhanced by a&nbsp;network of leading scholars including&nbsp;<a href=""><strong>Dan Quan</strong></a>, who will serve as adjunct scholar for CMFA. Quan,&nbsp;managing partner of Banks Street Advisors and senior adviser for McKinsey’s banking practice, is a&nbsp;nationally recognized expert who has advised policymakers and CEOs at successful fintech firms. Quan previously served as senior adviser to the Director of the Consumer Financial Protection Bureau, where he led its fintech office, Project Catalyst.&nbsp;</p> <p>As part of the initiative, Cato scholars will explore problems of the “unbanked” — the 8.4 million families and 20 million individuals in the United States with little access to banking, credit, and payments services.</p> <p>“Reducing regulations that eliminate credit options for those who already have few of them is a&nbsp;moral imperative,” said Zywicki. “It is our hope that this project will encourage new financial technologies, such as nontraditional credit scoring and underwriting models, that would benefit consumers who don’t have access to mainstream banking.”</p> <p>Over the long‐​term, Zuluaga notes, “greater financial inclusion can also boost income mobility for historically disadvantaged groups and allow more people to contribute to the economy. Yet that outcome depends not only on the ingenuity of entrepreneurs but also on the willingness of regulators to let them innovate.”</p> <p>This vision, in which innovation and competition expand access to financial services, is one that Cato believes progressives and conservatives both can support — to the advantage of the American people.</p> <p>“Progressives worry that millions of Americans might be held back if they lack a&nbsp;bank account,” Zuluaga wrote in a&nbsp;<a href=""><strong>recent op‐​ed</strong></a>. “Conservatives who support free enterprise should be concerned that government over‐​regulation has raised the cost to banks of managing accounts, pricing out lower‐​income people. This can and should be a&nbsp;very bipartisan cause.”</p> <p>The first Initiative event, “<a href=""><strong>Financial Inclusion: The Cato Summit on Financial Regulation</strong></a>,” will be held on June 12&nbsp;in Washington, D.C. The Summit will feature innovators, policy experts, and regulators, including keynote speeches by FDIC Chairman Jelena McWilliams and CFPB Deputy Director Brian Johnson.</p> </div> Wed, 22 May 2019 15:45:00 -0400 New Billboards Blame the Onerous Jones Act for Snarling Traffic along Eastern Seaboard <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, DC</strong> — The Cato Institute is launching a new billboard campaign in the heavily trafficked New York City region this month to educate motorists on the impact of the Jones Act on their daily commute.</p> <p>The two billboards, located along I-95 at exit 14C (I-78/Newark Airport) in Newark and exit 13 (Conner Street) in the Bronx, beckon drivers with “Stuck in Traffic? Blame the Jones Act.” The boards direct readers to <a href=""><strong></strong></a>, which explains that the Merchant Marine Act of 1920, better known as the Jones Act, helps clog America’s highways with 18-wheelers by making it prohibitively expensive for companies to ship goods via container ships, which would be a cheaper and more efficient option were it not for the act.</p> <p align="center"> </p><div data-embed-button="image" data-entity-embed-display="view_mode:media.full" data-entity-type="media" data-entity-uuid="00d93ed4-f9ac-4f20-ad93-95abf4aba824" data-langcode="en" class="embedded-entity"> <img width="700" height="472" alt="Media Name: jones-act-billboard-img.jpg" class="lozad component-image lozad" loading="lazy" data-srcset="/sites/ 1x, /sites/ 1.5x" data-src="/sites/" typeof="Image" /></div> <p>The Jones Act is a 99-year-old law that restricts shipping between two ports in the United States to vessels that are U.S.-built, U.S.-owned, U.S.-flagged, and U.S.-crewed. Although the law was intended to bolster U.S. shipbuilding capacity and ensure a robust maritime services industry, it has had the opposite effect; in the absence of competition, U.S. shipbuilding has atrophied. About 300 shipyards have closed since 1983, the number of shipyard workers has shrunk from 186,700 in 1981 to 94,000 today, and the number of Jones Act–compliant ships has diminished from 326 in 1982 to 99 today.</p> <p>As a result, our coastal cities and their populations suffer increasingly costly levels of traffic congestion.</p> <p>In 2018, Americans lost an average of 97 hours to traffic congestion, costing them nearly $87 billion — an average of $1,348 per driver. The New York metro area in particular experiences egregious traffic jams. Transportation analytics company INRIX lists New York City as one of the top 10 most congested U.S. cities, with drivers spending an estimated 133 hours in traffic per year. However, most heavily trafficked routes, such as I-95, parallel oceans where container transport would be the more efficient passage.</p> <p>According to new research from Cato’s <a href=""><strong>Herbert A. Stiefel Center for Trade Policy Studies</strong></a>, coastal shipping would be a more cost-effective option for an estimated 25 percent of the trucks operating on surface transportation roads.</p> <p>“Traffic is increasingly costly to the U.S. economy, and the Jones Act’s restrictions on coastal shipping only make matters worse by incentivizing businesses to move freight on our highways,” said center director Dan Ikenson. “Less than 5 percent of the volume of U.S. domestic freight is transported by water, whereas the comparable figure in Europe is 20 percent. Ending the Jones Act would alleviate the nation’s growing traffic problem and many other problems.”</p> <p>In addition to swelling traffic, by encouraging more freight to be moved by trucks, the Jones Act results in increased environmental emissions, higher fuel use and costs, and increased prices to consumers.</p> <p>The billboards are another phase of the Center for Trade Policy Studies’ multifaceted campaign to educate policymakers and the general public on the havoc wrought by the Jones Act. The campaign, in addition to public events and advertising, will publish the work of Cato’s trade experts in four research papers, each tackling a particular aspect of the act. The first, <a href=""><strong>The Jones Act: A Burden America Can No Longer Bear</strong></a>, was released last summer. The next paper will delve deeper into the real costs of the law, expanding on time wasted in traffic congestion, the collateral damage of excessive wear on the country’s infrastructure, and the accumulated health and environmental toll caused by unnecessary carbon emissions and hazardous material spills from trucks and trains.</p> <p>“Sometimes it’s hard to see all the societal costs associated with bad policy. I’m sure most motorists don’t realize that traffic, pollution, and infrastructure wear and tear are all made worse by the Jones Act,” said Peter Goettler, Cato Institute president and CEO. “We’re trying to spread the word.”</p> </div> Tue, 02 Apr 2019 10:15:00 -0400 Todd Zywicki Joins Cato as Senior Fellow <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C. –&nbsp;</strong>The Cato Institute today announced that <a href="" target="_blank"><strong>Todd Zywicki</strong></a>, a&nbsp;Professor of Law at George Mason University’s Scalia School of Law, has joined the Institute as a&nbsp;Senior Fellow. </p> <p>Zywicki, well known for his work on subprime lending, the effects of the Dodd‐​Frank legislation, and consumer credit, will supplement Cato’s efforts in the financial regulatory field as well as working with scholars in other disciplines affected by such regulations, including higher education.&nbsp;</p> <p>“My involvement with Cato goes back decades and my admiration of Cato goes back further than that,” said Zywicki.&nbsp;“This is the mother ship for those of us who believe in free markets, limited government, individual liberty, and the rule of law, and it’s a&nbsp;thrill for me to be able work with Cato on a&nbsp;more formal basis.” </p> <p>Zywicki has authored scholarly articles for law reviews and economic journals on topics ranging from price competition to Operation “Choke Point” to bankruptcy.&nbsp;He served as editor of the&nbsp;<em>Supreme Court Economic Review</em>, published quarterly by the University of Chicago Press,&nbsp;from 2006 – 2017,&nbsp;during which time the&nbsp;<em>Review</em>&nbsp;was one of the most highly‐​cited journals of its kind. </p> <p>“Adding a&nbsp;scholar of Todd’s intellect, expertise, and profile to the ranks of Cato’s policy experts is an exciting opportunity to strengthen further our outstanding team,” said Cato President and CEO Peter Goettler. “Whether law review articles, op‐​eds in the nation’s top newspapers, or even his authoritative lectures on public choice theory, so many of us have benefited from Todd’s work over the years.&nbsp;It’s with pride that I&nbsp;can now call him a&nbsp;colleague.” </p> <p>Zywicki is co‐​author, with Cato’s Neal McCluskey, of the upcoming book, <em>Unprofitable Schooling: America’s Broken Ivory Tower</em>, which looks at rising college costs, student loan debt, and the war on for‐​profit colleges. </p> <p>“What we’ve managed to do with higher education is to re‐​create everything that is wrong with healthcare,” Zywicki said.&nbsp;“The student loan program has set the government up as the third‐​party payer of college tuition, masking the true costs and leaving graduates with often‐​crippling debt.” </p> <p>Zywicki also served as Policy Planning Director at the Federal Trade Commission from 2003–2004.&nbsp;He has taught law at Vanderbilt University, Georgetown, Boston College, and the Mississippi School of Law.&nbsp;He received his JD from the University of Virginia, his MA in Economics from Clemson University, and his BA in Economics from Dartmouth College.</p> </div> Tue, 13 Nov 2018 16:15:00 -0500 Cato Institute Honors Human Rights Group, the Ladies in White, with 2018 Milton Friedman Prize <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C.&nbsp;</strong>–&nbsp;The Cato Institute has announced that Cuba’s Ladies in White (Damas de Blanco),&nbsp;will receive the&nbsp;<a href=""><strong>2018&nbsp;Milton Friedman Prize for Advancing Liberty</strong></a>, a $250,000 biennial award presented to a&nbsp;group or individual&nbsp;who has made a&nbsp;significant contribution to advance human freedom.&nbsp;</p> <p>The Ladies in White have a&nbsp;simple message: The political prisoners of Cuba are our sons, our brothers, and our husbands.&nbsp;<u>They must not be forgotten.</u></p> <p>Every Sunday, the Ladies gather, or attempt to gather, for mass at Saint Rita de Casia church in Havana, followed by a&nbsp;procession down Fifth Avenue. They wear white to symbolize the peaceful nature of their protest, and each wears a&nbsp;photograph of a&nbsp;loved one who is incarcerated in Cuba’s notoriously harsh prisons. For this, the authorities have constantly harassed them and organized mob violence against them.</p> <p>The movement began on March 18, 2003, when journalist Héctor Maseda Gutiérrez was arrested in his home in Havana and sentenced to 20&nbsp;years in prison for criticizing Fidel Castro’s regime. His case drew worldwide attention, with Amnesty International calling him a&nbsp;prisoner of conscience and demanding his release. Around 75 others were arrested at the same time in an incident that has been called the Black Spring. All have since left prison, though not unconditionally, with the majority having had to leave Cuba. Since that time, sporadic arrests of journalists, lawyers, and other intellectuals have continued in Cuba, belying the myth that with normalized relations, Cuba’s human rights record would improve. If anything, it has deteriorated.</p> <p>Two weeks after Maseda was arrested, his wife, Laura Pollán Toledo, brought together a&nbsp;group of wives, mothers, sisters, and daughters of the imprisoned to pray for their loved ones. They have continued to gather each Sunday, and the movement has since spread to other churches throughout Cuba.&nbsp;They are not a&nbsp;political party and do not have an overtly political message, but rather they seek freedom of expression for all and the release of prisoners of conscience in Cuba. Because of their work, the Ladies have faced increasing police harassment and arrest in recent years, as the Cuban government tries to hide — but not change — its habit of quashing dissent.</p> <p>“All who labor in the name of freedom take great inspiration from — and feel a&nbsp;tremendous debt to — courageous people who risk everything to stand up to oppression. The Ladies in White are a&nbsp;stirring example,” said Peter Goettler, president and CEO of the Cato Institute. “We are proud, and humbled, to award them the Milton Friedman Prize for Advancing Liberty, and hope this honor will bring more attention to their cause.”</p> <p>Laura Pollán died in 2011 under gravely suspicious circumstances, but the movement she founded continues: The Ladies in White will meet, pray, and bear witness every Sunday until Cuba’s political prisoners are freed.</p> <p>Established in 2002 and presented every two years, the Milton Friedman Prize for Advancing Liberty is the leading international award for significant contributions to advancing individual liberty.</p> <p>The prize will be presented during a&nbsp;dinner at Cipriani 42nd Street&nbsp;in New York on May 17, 2018.</p> <p>Previous winners include Danish journalist and free‐​speech advocate Flemming Rose; former Deputy Prime Minister and Finance Minister of Poland Leszek Balcerowicz; Chinese economist Mao Yushi; Iranian writer and journalist Akbar Ganji; leader of a&nbsp;Venezuelan pro‐​democracy movement Yon Goicoechea; former Prime Minister of Estonia Mart Laar; property rights reformer Hernando de Soto; and the late British economist Peter Bauer.</p> <p>The members of the 2018&nbsp;International Selection Committee are:</p> <p><strong>Leszek Balcerowicz</strong><br>Former Deputy Prime Minister<br>and Finance Minister<br>Poland</p> <p><strong>Janice Rogers Brown&nbsp;</strong><br>Former Judge<br>U.S. Court of Appeals for the District of Columbia Circuit</p> <p><strong>Vicente Fox</strong><br>Former President<br>Mexico</p> <p><strong>Sloane Frost</strong><br>Chairwoman<br>Board of Directors<br>Students for Liberty</p> <p><strong>Peter N. Goettler</strong><br>President and CEO<br>Cato Institute</p> <p><strong>Herman Mashaba</strong><br>Executive Mayor<br>Johannesburg</p> <p><strong>Harvey Silverglate</strong><br>Co‐​founder<br>Foundation for Individual Rights in Education&nbsp;</p> <p><strong>Donald G. Smith</strong><br>President<br>Donald Smith &amp;&nbsp;Company Inc.</p> <p><strong>Linda Whetstone</strong><br>Chair<br>Atlas Network</p> </div> Mon, 16 Apr 2018 09:30:00 -0400 Cato Institute Center for Constitutional Studies Named in Honor of Champion of Liberty Robert A. Levy <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Cato Institute President and CEO Peter Goettler announced the naming of the Institute’s legal center as the Robert A. Levy Center for Constitutional Studies. The Center was founded in 1989 to focus on restoring the Madisonian vision of liberty through constitutionally limited government. Levy served as Senior Fellow at the Center before joining Cato’s board of directors.</p> <p>But law was a&nbsp;second career for Levy. After earning a&nbsp;Ph.D. in business at American University in 1966, Levy built a&nbsp;successful global business, CDA Investment Technologies. He sold the business 20&nbsp;years later and retired as CEO in 1991. Levy then attended George Mason Law School, where he was chief articles editor of the law review and class valedictorian, graduating with a&nbsp;juris doctor degree focusing on constitutional law.</p> <p>Levy did an internship with the Institute for Justice upon graduating, following which he clerked for Judge Royce C. Lamberth on the United States District Court for the District of Columbia, and then for Judge Douglas H. Ginsburg on the United States Court of Appeals for the District of Columbia Circuit.</p> <p>In 1997, Levy joined Cato’s Center for Constitutional Studies. He began service on the Cato Institute Board of Directors in 2007, and became Chairman in 2008.</p> <p>“Bob Levy’s energy, intellect, and dedication are an example for all,” said Goettler. “We are fortunate that he has devoted these prodigious assets to the cause of liberty, and to the Cato Institute. Whether it be in his role as a&nbsp;senior fellow, his leadership of the Institute as Chair of our Board of Directors, or his generosity as a&nbsp;sponsor, Bob has meant so much — and continues to mean so much — to the Cato Institute.”</p> <p>Levy was an architect and the funder of the successful Supreme Court challenge to Washington, D.C.’s gun ban, <em>District of Columbia v. Heller</em>. Levy served as co‐​counsel with Alan Gura and Clark Neily. Neily now serves as Cato’s Vice President for Criminal Justice.</p> <p>The Center was founded by Roger Pilon, who still serves as its director as well as Vice President for Legal Affairs at Cato.</p> <p>“A ‘third way’ between judicial activism and restraint had been building for nearly a&nbsp;decade and a&nbsp;half, but the movement was still hit‐​and‐​miss,” said Pilon of the Center’s founding. “It lacked an institutional center to focus, refine, and promote the vision more broadly and systematically. Cato was receptive to this basically libertarian approach to the role of the courts under the Constitution.”</p> <p>Naming the center in Levy’s honor was made possible through a&nbsp;substantial gift for Cato’s general operations from individuals who requested anonymity.</p> <p>“The Center for Constitutional Studies, under Roger’s vision and guidance, has made an outstanding contribution to defending the values of individual liberty and limited government that are at the core of our work and mission, and has played a&nbsp;critical role throughout its history in establishing the reputation of the Institute,” said Goettler.&nbsp;“It’s therefore fitting that the Center bear the name of an individual who has also given so much to Cato.”</p> </div> Tue, 31 Oct 2017 08:00:00 -0400 Rebecca Dunn Joins Cato Institute Board of Directors <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C. — </strong>The Cato Institute Board of Directors, in a&nbsp;meeting held earlier this month, elected Rebecca Dunn as a&nbsp;new director.</p> <p>“Rebecca Dunn has been part of the Cato family for twenty years,” said Peter N. Goettler, president and CEO of the Cato Institute. “We are privileged to have such an optimistic and upbeat champion of liberty serving on our board.”</p> <p>Rebecca Walter Dunn, an early advocate for Cato’s work on privatizing Social Security and efforts to reach young people, started attending Cato events as a&nbsp;supporter in 1997.&nbsp;She was one of the longest‐​serving board members of the James Madison Institute, a&nbsp;state‐​level think tank in Florida, as well as a&nbsp;member of the Board of Directors of the Foundation for Individual Rights in Education. In 2001, she was appointed to the Florida Judicial Nominating Commission.</p> <p>“I believe Cato is often viewed as the ‘go to’ resource on libertarian thought, be it for the curious student, the conscientious lawmaker, the reporting journalist or the networks’ commentators,” said Dunn. “Their online presence, extensive publications and legion of scholars have made them unequalled in this area.”</p> <p>“No words could adequately capture the vital contribution that Rebecca has made in promoting a&nbsp;free society,” said Cato Board Chairman Robert A. Levy. “The entire Cato board looks forward to working with her in this capacity.”</p> <p>In 2014, Rebecca and Bill Dunn established the Dunn Libertarian Leadership Project at Cato, which supports substantial outreach efforts to young people through Cato’s sister site,&nbsp;<a href="" target="_blank"><strong>Lib​er​tar​i​an​ism​.org</strong></a>.</p> <p>“The generous support of Rebecca and Bill enabled&nbsp;<a href="" target="_blank"><strong>Lib​er​tar​i​an​ism​.org</strong></a>&nbsp;to grow dramatically and extend our reach, bringing the ideas of political liberty to a&nbsp;global audience of young people new to the libertarian tradition,” said Aaron Powell, director and editor of&nbsp;<a href="" target="_blank"><strong>Lib​er​tar​i​an​ism​.org</strong></a>.</p> </div> Fri, 27 Oct 2017 12:00:00 -0400 Poll: Public Distrusts Wall Street Regulators as Much as Wall Street, Say Regulators Are Ineffective, Biased, and Put Own Ambitions before Public Interest <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Americans Say Bipartisan Commission Should Run CFPB, Don’t Think Dodd‐​Frank Will Reduce Chance of Future Financial Crises, Say CEOs Are Overpaid but Government Shouldn’t Regulate Salaries, Less Than Half Could Pay for $500 Unexpected Expense with Savings, Most Support Helping Low‐​Income Families Get Mortgages Except if it Causes More Mortgage Defaults</strong></p> <p><strong>Washington, D.C.</strong> – A&nbsp;new <a href="">Cato Institute national survey</a> of 2,000 U.S. adults finds that Americans distrust government financial regulators as much as they distrust Wall Street. Nearly half (48%) have “hardly any confidence” in either. Nearly three‐​fourths (74%) of Americans believe regulations often fail to have their intended effect, 75% believe government financial regulators care more about their own jobs and ambitions than the well‐​being of Americans, and 80% worry regulators allow their political biases to impact their judgment. While six in ten believe that regulations in the past have produced positive benefits (59%) and can make businesses more responsive (56%), nearly two‐​thirds (62%) worry that regulations too often cause more harm than good.</p> <p>Americans don’t believe that regulators help banks make better business decisions (74%) or better decisions about how much risk to take (68%). Instead, Americans want regulators to focus on preventing banks from committing fraud (65%) and ensuring banks fulfil their obligations to customers (56%). A&nbsp;plurality (41%) of Americans think the financial industry needs more oversight. However, only 18% think the problem is that there are “too few” rules on Wall Street. Instead, 63% say the government fails to “properly enforce existing rules” (40%) or enacts the “wrong kinds” of regulations on big banks (23%). “The data show that Americans are wary of Wall Street, but they don’t have much confidence in the regulators overseeing Wall Street either,” said Cato’s Director of Polling <a href="">Dr. Emily Ekins</a>. “When Americans say they want ‘more’ regulation of Wall Street, they don’t necessarily want more mandates or to give regulators more power—they want regulators to properly enforce the right kinds of rules.”</p> <p><strong>Americans Worry Wall Street Is Corrupt, but Still Think It’s Essential</strong><br>Nearly a&nbsp;decade after the 2008 financial crisis, Americans remain wary of Wall Street. More than three fourths believe banks would harm consumers if they thought they could make a&nbsp;lot of money doing so and get away with it (77%). Nearly two‐​thirds (64%) think Wall Street bankers get paid “huge amounts of money” for “essentially tricking people.” Nearly half (49%) of Americans worry that corruption in the industry is “widespread” rather than limited to a&nbsp;few institutions.</p> <p>At the same time, 64% believe Wall Street still serves an “essential” function in our economy because it provides the money that businesses need to create jobs and develop new products. Americans also believe Wall Street banks and financial institutions are important for channeling the funding needed to develop life‐​saving technologies in medicine (59%) and safety equipment in cars (53%). While the public has lost confidence in Wall Street, they haven’t given up on the capitalist ideal: 56% say banks and financial institutions should be allowed “to make as much money as they can” so long as they don’t mislead their customers.</p> <p><strong>Americans Want Bipartisan Commission to Run CFPB, Support CFPB Independence</strong><br>The poll finds that 63% of Americans prefer the Consumer Financial Protection Bureau (CFPB) be run by a&nbsp;bipartisan commission of Democrats and Republicans—rather than by a&nbsp;single director. A&nbsp;majority (54%) also think that Congress should not set the CFPB budget and only have limited oversight of the agency. This is perhaps unsurprising given that only 7% have a “great deal of confidence” in the people running Congress.</p> <p>Majorities of Republicans (64%) and Democrats (67%) agree a&nbsp;bipartisan commission should lead the CFPB. However, they disagree about oversight. Although a&nbsp;majority (58%) of Democrats think the CFPB should have only limited Congressional oversight, most (50%) Republicans think Congress should closely oversee the agency.</p> <p>Americans are skeptical the CFPB has achieved its mission to make the terms and conditions of credit cards and financial products easier to understand. Instead, 71% say credit cards and other financial products have not become easier to understand since the CFPB’s creation in 2011, while 26% believe they have.</p> <p><strong>Public Skeptical Dodd‐​Frank Will Prevent Future Financial Crises</strong><br>Will Dodd‐​Frank work? Nearly three‐​fourths (72%) of Americans don’t believe that new regulations on Wall Street and the financial industry passed since the 2008 financial crisis will make future crises less likely to happen in the future. A&nbsp;little more than a&nbsp;quarter (26%) believe such regulations will reduce the likelihood of future financial crises.</p> <p><strong>Americans Oppose Too Big to Fail</strong><br>Americans reject the idea that some banks are so important to the U.S. economy that they should be eligible for bailouts. Instead, two‐​thirds (65%) say that “any bank and financial institution” should be allowed to fail if it can’t meet its obligations. A&nbsp;third, however, believe that some financial institutions are too integral to the U.S. financial system to be allowed to fail. Opposition to the “too big to fail” model is post‐​partisan, with majorities of Democrats (57%) and Republicans (72%) opposing its use.</p> <p><strong>Americans as Likely to Say CEOs, NFL and NBA Basketball Players are Overpaid, but Most Oppose</strong></p> <p>Government Regulating Pay<br>Americans are about equally likely to think that CEOs (73%) and professional athletes like NFL players (72%) and NBA players (74%) are paid “too much.” Yet the public doesn’t think the government ought to regulate the salaries of either corporate executives (53%) or professional athletes like NBA players (69%). Even so, there is more support for regulating CEO pay (43%) than NBA salaries (28%). Compared to CEOs (73%) and professional athletes, far fewer believe that major tech company entrepreneurs are overpaid (51%).</p> <p>Democrats support (56%) government regulating CEO salaries but oppose regulating the salaries of NBA players (66%) or famous actors (69%). About seven in ten Republicans oppose government regulating the salaries of all three professions, even though they are more likely than Democrats to believe professional athletes and famous actors are overpaid.</p> <p><strong>Most Support Risk‐​Based Pricing for Loans, Say Low Credit Scores Due to Irresponsibility</strong><br> Nearly three‐​fourths of Americans (74%) say they’d be unwilling to pay more for their home mortgage, car loan, or student loan to help those with low credit scores access these loans. One reason why Americans may be unwilling is that a&nbsp;majority (58%) believe low credit scores are primarily due to irresponsible decisions, rather than circumstances beyond a&nbsp;person’s control (41%).</p> <p>The poll delved further to understand what Americans think causes bad financial decisions, revealing stark partisan divides. While both agree a&nbsp;lack of financial education is key (72%), Republicans and Democrats disagree about the extent to which personal responsibility or circumstances beyond one’s control play a&nbsp;role.</p> <p>Republicans are nearly 20 points more likely than Democrats to say a&nbsp;lack of self‐​discipline is a&nbsp;major reason for poor financial choices (70% vs 51%). But Democrats are about 20 points more likely than Republicans to say people make bad financial decisions because they faced hardship (66% vs 45%) or were tricked (52% vs 32%).</p> <p><strong>Less than Half of Americans Could Pay a $500 Unexpected Expense with Savings</strong><br>The survey found that less than half (43%) of Americans say they would pay for an unexpected $500 expense using money from checking or savings. The remainder would put the expense on a&nbsp;credit card (23%), ask family and friends for money (8%), sell something (7%), borrow the money from a&nbsp;bank or payday lender (5%), or simply not be able to pay it (12%).</p> <p><strong>Most Support Helping Low Income Families Own Homes Unless It Spikes Mortgage Defaults</strong><br>Nearly two‐​thirds (64%) of the public support government policies intended to make it easier for lowincome families to obtain a&nbsp;mortgage. However, support quickly erodes and a&nbsp;majority (66%) would oppose such policies if they resulted in more mortgage defaults and home foreclosures.</p> <p><strong>Most Oppose Accredited Investor Standard, Say Law Shouldn’t Prevent Non‐​Wealthy People from Risky Investments</strong><br>Some investments are only open to Americans who have a&nbsp;least one million dollars in assets or earn $200,000 a&nbsp;year because they are considered too risky for the common investor. However, 58% of Americans say the law should not restrict what people are allowed to invest in based on their wealth. On the other hand, more than a&nbsp;third (39%) think the law should restrict access to certain investments considered too risky.</p> <p>The topline questionnaire, full methodology, and report of the survey findings can be found <a href="">here</a>.</p> <p><strong>Methodology</strong><br>The Cato Institute 2017 Financial Regulation Survey was designed and conducted by the Cato Institute in collaboration with YouGov. YouGov collected responses online May 24–31, 2017 from a&nbsp;national sample of 2,000 Americans 18&nbsp;years of age and older. Restrictions are put in place to ensure that only the people selected and contacted by YouGov are allowed to participate. The margin of error for the survey is +/- 2.17 percentage points at the 95% level of confidence.</p> <p><strong><em>The Cato Institute is a&nbsp;501(c)(3) nonprofit, nonpartisan libertarian think tank.<br><br>If you would like to speak to Dr. Ekins on the poll’s results or a&nbsp;financial regulations expert at the <a href="">Center for Monetary and Financial Alternatives</a>, please contact <a href="">pr@​cato.​org</a> or 202–789-5200.</em></strong></p> </div> Tue, 19 Sep 2017 12:00:00 -0400 Clark Neily to Lead Cato Criminal Justice Project <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p> </p><div data-embed-button="image" data-entity-embed-display="view_mode:media.full" data-entity-type="media" data-entity-uuid="e4da0e30-352c-4218-8dd1-773a630a7282" class="align-right embedded-entity" data-langcode="en"> <img width="200" height="200" alt="Media Name: 2017_neily.jpg" class="lozad component-image" loading="lazy" data-srcset="/sites/ 1x, /sites/ 1.5x" data-src="/sites/" typeof="Image" /></div> The Cato Institute today named Clark Neily as Vice President for Criminal Justice. Neily, a well‐​known and accomplished litigator and public speaker, has specialized in challenging government entities for unconstitutional incursions on the rights of individuals. He will lead Cato’s efforts on criminal justice issues and related topics, a key element of Cato’s long‐​time work in defense of civil liberties. <p>“I’ve admired Clark and his work for many years, so I am delighted that he is joining Cato in such an important senior position,” said Cato President and CEO Peter Goettler. “While recognizing criminal justice and law enforcement as important and legitimate roles of the state, we also recognize the problems that the drug war, mass incarceration, police militarization and misconduct, civil forfeiture, and other relevant policy concerns create for individual liberty in America. Cato has long been a leading voice in these areas and under Clark’s leadership this voice will get louder.” </p> <p>Before joining Cato, Neily spent 17 years at the Institute for Justice as a senior attorney, litigating cases involving economic liberty, property rights, school choice, free speech, and other constitutional issues. Neily is an adjunct professor at the University of Texas School of Law, where he teaches cutting‐​edge constitutional litigation. He is also the author of <em>Terms of Engagement: How Our Courts Should Enforce the Constitution’s Promise of Limited Government </em>(Encounter Books, 2013), which argues that judicial failure to fully enforce the Constitution has led to greater government power and diminished individual rights. </p> <p>In other work, Neily conceived the idea of challenging the District of Columbia’s restrictive gun control laws with the goal of getting a Supreme Court decision affirming that the Second Amendment protects an individual right to keep and bear arms. He worked alongside Cato senior fellow (now Cato Board Chair) Robert Levy and co‐​counsel Alan Gura between 2002 and 2008 to develop the <em>District of Columbia v. Heller</em> case and carry it to the Supreme Court, which did indeed uphold for the first time in history the individual right to possess firearms. </p> <p>“I am honored and excited to join my friends at Cato and invest myself in the vital work of reforming America’s increasingly arbitrary, unaccountable, and excessively punitive criminal justice system,” said Neily. “Cato’s advocacy on behalf of liberty and limited government is unparalleled, and the need for principled discourse on matters of criminal justice has seldom been more urgent. I look forward to leading that effort and helping ensure our justice system is one that all Americans can be confident in and proud of.” </p> <p>A Texas native, Neily spent four years in the trial department of the Dallas law firm Thompson and Knight before joining the Institute for Justice. He also clerked for Judge Royce Lamberth on the U.S. District Court for the District of Columbia. Neily is a graduate of the University of Texas Law School, where he was Chief Articles Editor of the <em>Texas Law Review.</em> He earned his B.A. in Philosophy and Russian from the University of Texas. </p> <p>###</p> </div> Fri, 09 Jun 2017 13:15:00 -0400 School Inc. – A Personal Journey with Andrew Coulson explores the challenge to replicate educational excellence <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Why doesn’t education use innovation to grow like a&nbsp;successful business? <strong><em>School Inc.</em></strong> — A&nbsp;Personal Journey with Andrew Coulson, follows the late Andrew Coulson, series creator/​writer/​host and senior fellow of education policy at the Cato Institute’s Center for Educational Freedom, as he sets out on a&nbsp;worldwide personal quest for an answer to this question.</p> <p>Throughout the three‐​part, three‐​hour series, Coulson examines the role of innovation, the universal search for educational excellence and — for better or worse — the application of the profit motive. <strong><em>School Inc.</em></strong> will be available to PBS stations starting April 4. (Check local listings.)</p> <p>In episode one, <strong><em>The Price of Excellence</em></strong>, Coulson explores the educational establishment, its history and the politics that sometimes impede the growth of good schools, effective teachers, as well as the involvement of entrepreneur educators.</p> <p>He begins his journey in a&nbsp;one‐​room schoolhouse in 19th century New England. During the industrial revolution in the 19th century, inventions like New England’s automated textile mills give rise to innovations that are quickly replicated, but not so in the education field, notes Coulson.</p> <p>Horace Mann (1796–1859), the lawyer and legislator who became America’s first head of a&nbsp;state board of education recognized this lack as a&nbsp;significant problem in education. As Mann put it, “…if any improvement in principles or modes of teaching is discovered in one school, instead of being published to the world, it dies with the discoverer… Now if a&nbsp;manufacturer discovers a&nbsp;new mode of applying steam power, the information flies over the country at once, the old machinery is discarded, the new is substituted.” </p> <p>Through Mann’s efforts to put education into the hands of state‐​appointed experts and state‐​trained teachers, universal public education was born. </p> <p>From New England, Coulson travels to East Los Angeles, CA, to tell the story of Jamie Escalante, a&nbsp;math teacher at Garfield High, and the educational excellence he created in the classroom, a&nbsp;story which would became the subject of the Hollywood film Stand and Deliver.</p> <p>Episode one concludes in Seoul, South Korea, where students eagerly enroll in afterschool tutoring programs called “Hagwons,” and we meet teachers who are considered rock stars in education, one professor disclosing his annual salary is more than a&nbsp;million dollars.</p> <p>In episode two, <strong><em>Push or Pull</em></strong>, Coulson investigates why excellent private schools in America such as Cranbrook High in Bloomfield, MI, have not “scaled up” to replicate their excellence on a&nbsp;larger scale, and ultimately, serve more students.</p> <p>But is there some place where scaling up excellence is happening? To answer the question, <strong><em>School Inc.</em></strong> looks at America’s charter schools like the Knowledge is Power Program (KIPP) Academy in Austin, TX, part of the highly successful KIPP network of schools; the SABIS School in Springfield, MA; and the American Indian Charter School in Oakland, CA.</p> <p>Even though some charter schools are highly successful, when they are seen to compete with public schools, some public school districts have voted to shut down the charter school. But not every charter and public school encounter has a&nbsp;negative outcome. When Hurricane Katrina hit New Orleans, the city’s charter schools provided the facilities and services the other schools needed.</p> <p>Coulson ends this episode in South America with a&nbsp;comparison of how the success of Chile’s wine industry set the scene for the growth of the country’s successful school networks.</p> <p>In episode three, <strong><em>Forces and Choices</em></strong>, Coulson examines the success of for‐​profit education traveling to private schools in Sweden, India, and London, where the resistance to education as a&nbsp;business has lessened.</p> <p>In Sweden, where all private schools are fully tax supported and parents can choose between these “free” schools and the local public schools, Coulson pays a&nbsp;visit to two different private schools. At the International English School, strict rules on student behavior are extolled and there is a&nbsp;high degree of student‐​teacher interaction. At Kunskapsskolan he learns about the profit motive and the school’s expansion not only in Sweden but also in London. Peje Emilsson, administrator at Kunskapsskolan says, “…all entrepreneurs who succeed are being driven by the goal to change something. Profit is a&nbsp;receipt to show that you’ve done it in a&nbsp;successful way, but the primary goal is not to make a&nbsp;lot of money.”</p> <p>In India there are private schools that serve poor students and parents at little more than a&nbsp;dollar a&nbsp;week. Internationally acclaimed educational researcher James Tooley, who has spent 10&nbsp;years in India studying both the private and free public (or government) schools, comments on the abuses in the government school system contrasted with the achievements of these private schools.</p> <p>The series comes full circle back to the English countryside where the Industrial Revolution began and reiterates the premise that education is the only field in which successful entrepreneurship is not celebrated.</p> <p>“What if we allowed all education entrepreneurs to put their own money on the line in an effort to better serve us, gaining or losing just as entrepreneurs do in other fields,” says Coulson, “And what if we made sure that everyone had access to that wide‐​open market place? Would we then see excellence scale‐​up in education?” Coulson, an education policy analyst, was passionate about his work and prior to his death in February 2016 made arrangements to ensure <strong><em>School Inc.</em></strong> would be completed.</p> <p>Andrew Coulson, who died shortly after completing initial production on this series, was trained in mathematics and computer science at Canada’s McGill University. He began his first career as a&nbsp;Microsoft software engineer in 1989. But in January 1994, troubled by the fact that teaching and learning were being left behind by the relentless progress in other fields, he left the computer industry to pursue his love of education. He was the author of Market Education: The Unknown History, the only book to address contemporary education policy questions by drawing on case studies of recorded human history. His 2009 paper for the peer‐​reviewed Journal of School Choice was the most comprehensive review of the worldwide scientific literature comparing alternative education systems. In 2011 he conducted a&nbsp;statistical study titled “The Other Lottery: Are Philanthropists Backing the Best Charter Schools?” He had testified before the United States House and Senate on the state of American education and co‐​authored amicus briefs for the United States Supreme Court.</p> <p><strong><em>School Inc.</em></strong> is a&nbsp;production of Free To Choose Media in association with THIRTEEN Productions, LLC for WNET. Andrew Coulson is creator/​writer/​director. Kay Krewson is associate producer. Leigh Anne Sides is producer and supervising editor. Thomas Skinner and Bob Chitester are executive producers.</p> <p>Major funding for <strong><em>School Inc.</em></strong> is provided by the Rose‐​Marie and Jack R. Anderson Foundation, Prometheus Foundation, Gleason Family Foundation, and The Steve and Lana Hardy Foundation.</p> </div> Mon, 03 Apr 2017 09:45:00 -0400 Cato Institute Announces New R. Evan Scharf Chair for the Public Understanding of Economics <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Washington, D.C. – Through an extraordinary legacy gift, the Cato Institute has established the R. Evan Scharf Chair for the Public Understanding of Economics, tapping economist <a href="">Ryan Bourne</a> to serve in the position.</p> <p>The resident scholar position has been made possible by a&nbsp;generous donation from the estate of R. Evan Scharf. In his letter establishing the chair, Mr. Scharf reflected that government schools and private universities had failed to teach the profound theories of Friedrich Hayek, Ludwig von Mises, and Milton Friedman. He wished to fund a&nbsp;chair at Cato so that a&nbsp;persuasive teacher could move “public opinion to support market economies in contrast to those of the command‐​and‐​control models that have failed and been so costly to human happiness, health, and productivity.”</p> <p>Bourne holds a&nbsp;masters degree in the philosophy of economics from Cambridge University. He previously served as the Head of Public Policy at the Institute of Economic Affairs and Head of Economic Research at the Centre for Policy Studies.</p> <p>Bourne has focused his scholarship on a&nbsp;number of economic issues, including: fiscal policy, inequality, minimum wages, and rent control. Most recently, as one of the key “Economists for Brexit,” Bourne secured commitments for a&nbsp;free trade agenda from Britain’s post‐​Brexit Conservative government.</p> <p>At Cato, Bourne will be focusing his time on infrastructure spending, crony capitalism, price controls, and general applied economics.</p> <p>“I’m delighted and honored to accept the offer to occupy this chair. At a&nbsp;time when some well‐​founded economic ideas are out of fashion, R. Evan Scharf’s generous endowment will be used to bring good economic reasoning to light in a&nbsp;host of public policy debates,” stated Bourne. “I intend to work tirelessly both in assessing the public understanding of economics and finding new ways of improving it. Mr. Scharf saw in this position the need for a&nbsp;powerful voice for economic liberty. I&nbsp;hope to make good on his ambition.”</p> </div> Fri, 03 Mar 2017 12:15:00 -0500 New Guide Hopes to Change Foreign Policy Debate at RNC and DNC Conventions <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong><em>In a&nbsp;new book, Cato Institute scholars present practical, realistic approaches to today’s top foreign policy challenges, grounded in a&nbsp;strategy of restraint.</em></strong></p> <p>In a&nbsp;new policy guide, <a href=""><em>Our Foreign Policy Choices: Rethinking America’s Global Role</em></a>, Cato Institute scholars offer a&nbsp;clear strategic vision and a&nbsp;set of foreign policy options that starkly contrast with the foreign policy platforms of both the Republican and Democratic parties. Bipartisan support exists for extensive alliance commitments, frequent military intervention, and higher defense spending. Cato’s new volume offers a&nbsp;wiser alternative that would make U.S. foreign policy cheaper, safer, and more popular.</p> <p>Rather than being the policeman of the world, the authors argue for a&nbsp;more restrained approach to the world that avoids over‐​spending on defense and averts needless military intervention. Two editors of this book, <a href="">Christopher Preble</a>, Vice President for Defense and Foreign Policy, and <a href="">Emma Ashford</a>, Research Fellow, will attend the Democratic and Republican national conventions to put forth these ideas.</p> <p>The anthology includes chapters on key topics such as ISIS and the threat of terrorism, how to sensibly deal with the Syrian conflict, the right approach to Iran in the aftermath of the nuclear deal, and Russian assertiveness in Eastern Europe. It advises policymakers that NATO incentivizes free riding among allies and that America’s East Asian partners like Japan, South Korea, and Taiwan should carry a&nbsp;larger share of the defense burden in the face of a&nbsp;rising China.</p> <p>America’s current foreign policy of maintaining a&nbsp;global military presence and intervening even when vital U.S. interests are not at stake is expensive, dangerous, and unnecessary. The wars in Iraq, Afghanistan, and Libya have cost us dearly in blood and treasure without making us more secure.</p> <p>Restraint‐​oriented reforms could reduce annual defense spending by more than 25 percent and polls show that a&nbsp;majority of Americans do not want the United States to take a&nbsp;leading role in solving all the world’s problems.</p> <p>“This new book seeks to advance a&nbsp;much‐​needed debate about the direction of foreign policy,” says Emma Ashford. “Contrary to the conventional wisdom in Washington which identifies grave dangers to U.S. interests around every corner, Americans are fortunate to enjoy substantial security. We rarely need to use our military might. It’s in our interest to understand this.”</p> </div> Mon, 18 Jul 2016 09:45:00 -0400 Cato Institute Honors Free Speech Advocate Flemming Rose with 2016 Milton Friedman Prize <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <div> <div data-embed-button="image" data-entity-embed-display="view_mode:media.full" data-entity-type="media" data-entity-uuid="7424304c-837c-489f-b117-2fee12cf543d" data-langcode="en" class="embedded-entity"> <img width="250" height="250" alt="Flemming Rose" class="lozad component-image lozad" loading="lazy" data-srcset="/sites/ 1x, /sites/ 1.5x" data-src="/sites/" typeof="Image" /></div> </div> <p>The Cato Institute announced today that Flemming Rose, Danish journalist and author of <a href="" target="_blank"><em>The Tyranny of Silence</em></a>, will receive the <a href="">2016 Milton Friedman Prize for Advancing Liberty</a>, a $250,000 biennial award presented to an individual who has made a significant contribution to advance human freedom.</p> <p>In 2005, Rose, then an editor at the Danish newspaper <em>Jyllands‐​Posten</em>, sparked worldwide controversy when he commissioned and published 12 cartoons meant to depict the prophet Muhammad. The illustrations, intended to draw attention to the issue of self‐​censorship and the threat that intimidation poses to free speech, provoked deadly chaos in the Islamic world and put Rose in the center of a global debate about the limits to free speech in the 21st century.</p> <p>Recognizing the principles at stake, Rose refused to apologize or back down. Instead, he has become an international advocate for freedom of speech, making the case that all ideas — no matter how controversial — deserve a public airing in an atmosphere free from threat and violence. His book, <em>The Tyranny of Silence</em>, chronicles the events of the cartoon controversy and their chilling implications for the freedom of expression.</p> <p>“Flemming Rose is a compelling recipient of the Friedman Prize, exhibiting great courage in his passionate defense for free speech,” said Cato CEO Peter Goettler. “Flemming understands that the freedom of expression and speech is fundamental to the advancement of civilization and is critical in protecting the values of liberty and limited government.”</p> <p>Rose has a BA in Russian Studies from University of Copenhagen, and has worked as a translator of Russian literature. Before he joined the Danish newspaper Berlingske Tidende as their first Moscow bureau chief in 1990 he worked for eight years as a translator and Danish teacher at the Danish Refugee Council. He was based in Moscow from 1990 until 1996, and covered the fall of the Soviet Union. Rose was Washington bureau chief for Berlingske Tidende from 1997 to 1999 and went on to work as the Moscow correspondent for <em>Jyllands‐​Posten</em>, Denmark’s largest daily. He has also served as the paper’s culture editor and foreign editor.</p> <p>Established in 2002 and presented every two years, the Milton Friedman Prize for Advancing Liberty is the leading international award for significant contributions to advancing individual liberty.</p> <p>The prize will be presented during a dinner at the Waldorf‐​Astoria Hotel in New York on May 25, 2016. Angus Deaton, renowned economist and 2015 Nobel Prize winner, will deliver the Keynote Address.</p> <p>Previous winners include former Deputy Prime Minister and Finance Minister of Poland, Leszek Balcerowicz; Chinese economist Mao Yushi; Iranian writer and journalist, Akbar Ganji; leader of a Venezuelan pro‐​democracy movement, Yon Goicoechea; former Prime Minister of Estonia Mart Laar; property rights reformer Hernando de Soto; and the late British economist Peter Bauer.</p> <p>The members of the 2016 International Selection Committee are:</p> <p><strong>Gurcharan Das</strong><br />Former CEO<br />Procter &amp; Gamble India</p> <p><strong>Peter Goettler</strong><br />President and CEO<br />Cato Institute</p> <p><strong>Karen Horn</strong><br />Former Economics Editor<br />Frankfurter Allgemeine Zeitung<br />Germany</p> <p><strong>Ethelmae Humphreys</strong><br />Chairman of the Board<br />TAMKO Building Products, Inc.</p> <p><strong>Giancarlo Ibárgüen (1963‐​March 2016)</strong><br />Member of the Board of Trustees<br />Francisco Marroquín University, Guatemala</p> <p><strong>John Mackey</strong><br />Co‐​Founder and Co‐​CEO<br />Whole Foods Market</p> <p><strong>Herman Mashaba</strong><br />Former Chairman<br />Free Market Foundation<br />South Africa</p> <p><strong>Ruth Richardson</strong><br />Former Minister of Finance<br />New Zealand</p> <p><strong>Vernon Smith</strong><br />Nobel Laureate<br />Professor of Economics and Law, Chapman University<br />Senior Fellow, Cato Institute</p> </div> Wed, 11 May 2016 09:00:00 -0400 Cato Names Gelfond to Board <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Washington, D.C. – The Cato Institute Board of Directors, in a&nbsp;meeting held Saturday, September 26, elected Robert Gelfond, CEO and Founder, Macro Quantitative Strategies (MQS), as a&nbsp;new director.</p> <p>“In addition to his success as a&nbsp;businessman and entrepreneur, for many years Bob Gelfond has worked tirelessly and generously on behalf of liberty and limited government,” said Peter Goettler, President and CEO of the Cato Institute. “He is a&nbsp;valuable addition to the Cato Institute’s Board of Directors.”</p> <p>Prior to starting MQS, Gelfond founded MagiQ Technologies, which successfully developed the world’s first unbreakable computer encryption code based on quantum physics. He holds a&nbsp;patent in the field of quantum cryptography. In 2004, MagiQ was named a “Technology Pioneer” by the World Economic Forum (Davos), awarded the SA50 “Business Leader” in computing by <em>Scientific American</em>, and named one of the “Top Ten Tech Companies to Watch for the Next 10 Years” by IEEE Spectrum.</p> <p>Gelfond also served as a&nbsp;managing director at Millennium Partners, LP, from 1992–98, where he developed proprietary quantitative financial forecasting and risk models, and in 1995–96, earned the highest documented Sharpe ratio of any trader in the industry for his consistently profitable track record. Prior to that, Gelfond was in charge of research, development and implementation of trading and arbitrage strategies for global financial markets as Director of International Trade at D.E. Shaw &amp;&nbsp;Co.</p> <p>He graduated from the University of Virginia in 1981 with degrees in mathematics and economics.</p> <p>“My wife and I&nbsp;have been long time supporters of Cato, as we have admired its principled, thoughtful and articulate promotion of freedom through limited government,” said Gelfond. “I’m honored to join the board and become more active in supporting the Cato Institute.”</p> </div> Tue, 06 Oct 2015 10:30:00 -0400 Selection Committee Announced for the 2016 Milton Friedman Prize for Advancing Liberty <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C. –</strong> The Cato Institute today announced the international committee to select the eighth recipient of the Milton Friedman Prize for Advancing Liberty, a $250,000 biennial award presented to an individual for achievement in promoting freedom and individual liberty. Since the Prize’s inception in 2002, $3 million has been awarded.</p> <p>The late Nobel laureate Milton Friedman agreed in 2001 to lend his name to the prize, which has become the leading international award for acknowledging contributions to the promotion of individual liberty. In a&nbsp;statement at the time he said: “Those of us who were fortunate enough to live and be raised in a&nbsp;reasonably free society tend to underestimate the importance of freedom. We tend to take it for granted. It has made us in the West more complacent, so having a&nbsp;prize emphasizing liberty is extremely important.” Dr. Friedman passed away in 2006.</p> <p>The first recipient of the Friedman Prize was the late British economist Peter Bauer, who received the prize in 2002. He was followed by the Peruvian scholar and author Hernando de Soto in 2004; the former Estonian prime minister Mart Laar in 2006; leader of the pro‐​democracy student movement in Venezuela Yon Goicoechea in 2008; the Iranian writer and journalist Akbar Ganji in 2010; Chinese economist Mao Yushi in 2012; and Leszek Balcerowicz, the former deputy prime minister and finance minister of Poland, in 2014.</p> <p>The selection committee members for the 2016 prize are:</p> <p><strong>Gurcharan Das</strong><br>Former CEO<br>Procter &amp;&nbsp;Gamble India</p> <p><strong>Peter Goettler</strong><br>President and CEO<br>Cato Institute</p> <p><strong>Karen Horn</strong><br>Former Economics Editor<br><em>Frankfurter Allgemeine Zeitung</em><br>Germany</p> <p><strong>Ethelmae Humphreys</strong><br>Chairman of the Board<br>TAMKO Building Products, Inc.</p> <p><strong>Giancarlo Ibárgüen</strong><br>Member of the Board of Trustees<br>Francisco Marroquín University, Guatemala</p> <p><strong>John Mackey</strong><br>Co‐​Founder and Co‐​CEO<br>Whole Foods Market</p> <p><strong>Herman Mashaba</strong><br>Former Chairman<br>Free Market Foundation<br>South Africa</p> <p><strong>Ruth Richardson</strong><br>Former Minister of Finance<br>New Zealand</p> <p><strong>Vernon Smith</strong><br>Nobel Laureate<br>Professor of Economics and Law<br>Chapman University</p> <p>The prizewinner will be announced in April and the award will be presented at the Milton Friedman Prize for Advancing Liberty Biennial Dinner on May 25, 2016 at the Waldorf Astoria, New York, NY.</p> </div> Fri, 04 Sep 2015 10:00:00 -0400 Cato Institute Announces New CEO <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C.&nbsp;</strong>— The Cato Institute welcomes Peter Goettler, a&nbsp;former managing director at Barclays Capital, as its new President and CEO, effective <span class="nowrap">April 1</span>. Current CEO John Allison is retiring after more than two exemplary years on the job.</p> <p>Goettler retired in 2008 as a&nbsp;managing director and head of Investment Banking and Debt Capital Markets, Americas, at Barclays Capital, the investment banking division of Barclays Bank, PLC. He also served as chief executive officer for the firm’s businesses in Latin America and head of Global Loans and Global Leveraged Finance. He has been a&nbsp;member of the Cato Institute’s board since last year and a&nbsp;supporter of the Institute for 15&nbsp;years.</p> <p>“The Cato Institute has played a&nbsp;major role in the increasing recognition of libertarianism as a&nbsp;vital political philosophy in the United States and the world,” said Goettler. “Indeed, journalists now talk about a ‘libertarian moment’ in American politics, reflecting both the failure of excessive government and the effective work of Cato and other libertarian organizations. In one policy area after another, Cato’s scholarship has highlighted the ill effects of state intervention on both freedom and economic growth. In the process, Cato’s work has helped to limit government and protect our liberty.”</p> <p>Goettler has also served on the Board of the New York City‐​Southern New York chapter of the National MS Society since 2008, and chaired the board for the last two years.</p> <p>Allison, former chairman and CEO of BB&amp;T, joined Cato in October 2012 following the retirement of Cato co‐​founder Edward H. Crane.</p> <p>“John Allison guided Cato through a&nbsp;significant transition process, and for that we will always be grateful to him,” said Robert Levy, Chairman of the Cato Institute’s Board of Directors. “Under John’s leadership, the Institute has prospered and grown while enhancing its reputation for intellectual rigor, advocacy of libertarian principles, and influence in the public policy community. The board is especially grateful for John’s willingness to tackle internal governance issues and help resolve conflicts that had jeopardized the Institute’s mission.”</p> <p>Under Allison’s leadership, Cato’s financial support has grown by 64 percent, from total revenues of $22.1 million in FY2013 to total revenues of $36.3 million (projected) in FY2015. Allison also played a&nbsp;significant role in launching two new policy centers at Cato: the Center for Monetary and Financial Alternatives, which studies alternatives to today’s financial regulatory regime; and the Center for the Study of Science, which studies the effects of government funding on scientific research.</p> <p>“Peter Goettler is an accomplished business executive who can speak powerfully, write convincingly, and has the leadership skills to take Cato’s outstanding team to an even higher impact level.&nbsp;We are very fortunate to have him as Cato’s new President and CEO. He has the talent to make a&nbsp;great organization even better,” said Allison.</p> <p>Allison will continue to serve on Cato’s Board of Directors, in addition to acting as Chairman of the Executive Advisory Council for the Center for Monetary and Financial Alternatives.</p> <p>The Cato Institute’s Board of Directors approved Goettler as the next CEO by unanimous vote at its March 28 meeting.</p> <p>“In the fight for liberty, Cato is the indispensable institution,” Goettler said. “There is no more important contribution I&nbsp;can make to our fight than to dedicate myself fully to the ongoing success of the Cato Institute.” </p> </div> Mon, 30 Mar 2015 07:30:00 -0400 Cato Institute Announces New Center for Monetary & Financial Alternatives <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><a href="">John Allison</a>, CEO of the Cato Institute and former CEO of BB&amp;T Corporation, announced today that Cato has established a&nbsp;new Center for Monetary and Financial Alternatives, which will focus on development of policy recommendations that will create a&nbsp;more free‐​market monetary system in the U.S.</p> <p>“We have assembled a&nbsp;group of scholars and advisory board members who will challenge the Federal Reserve and the financial regulators in a&nbsp;way they haven’t been challenged in 100&nbsp;years,” Allison said.</p> <p>George Selgin, a&nbsp;Professor Emeritus of Economics at the University of Georgia and one of the foremost authorities on banking and monetary theory and history, gave up his academic tenure to join Cato as director of the new center.</p> <p>“If there’s ever to be a&nbsp;serious attempt to come up with something better than the Fed, we must bury the myth that it’s our only hope” Selgin said. “We don’t want to turn back the clock to 1913, or to any other bygone era. But we do need to change the intellectual climate from the present one — with its hostile and ill‐​informed response to any suggestion that a&nbsp;monetary system consistent with the rule of law and genuine competition might be an improvement upon our present autocratic central bank.”</p> <p>Allison, who grew BB&amp;T from $4.5 billion to $152 billion in assets during his 20&nbsp;years as CEO, was recognized by the Harvard Business Review as one of the top 100 most successful CEOs in the world over the last decade.</p> <p>“What I&nbsp;learned over my 40‐​year career in the banking business is that the more government micromanages lending and management practices, the less helpful real bankers can be to the lifeblood of the economy – small businesses and individuals,” said Allison.</p> <p>The Center for Monetary and Financial Alternatives will explore policy options that include creation of a&nbsp;private deposit insurance pool for small depositors, as well as measures that would expose even the largest financial institutions to a&nbsp;genuine risk of failure, and thereby compel them to either acquire more capital or take fewer risks.</p> <p>“The new myth is that the recent financial crisis and failed recovery were caused by banking deregulation and greed on Wall Street,” Allison said in his book, The Financial Crisis and the Free Market Cure. “In truth, the banking industry was never deregulated…it was misregulated.”</p> <p>Dodd‐​Frank has also given the Federal Reserve expanded powers which continue the agency down a&nbsp;path of hindering more than helping the economy.</p> <p>“Since its inception, the Federal Reserve’s monetary policies have been a&nbsp;primary cause of artificial booms that lead to recessions and depressions,” Allison said.</p> <p>In response, Cato’s monetary center will examine alternatives to pure discretionary government fiat money, including various monetary rules to reduce uncertainty and prevent the Federal Reserve from engaging in credit allocation and fiscal policy.</p> <p>Luminaries from the banking policy world who have signed on to the Executive Advisory Council for the new Center include <a href="" target="_blank">Richard Kovacevich</a>, Chairman Emeritus of Wells Fargo, and <a href="" target="_blank">George Melloan</a>, former Deputy Editor of the <em>Wall Street Journal</em>.</p> <p>The Council of Academic Advisors includes two Nobel Laureates in Economics, <a href="" target="_blank">Thomas J. Sargent</a>, from New York University, and <a href="" target="_blank">Vernon L. Smith</a> of Chapman University. <a href="" target="_blank">John B. Taylor</a>, a&nbsp;professor of economics at Stanford, <a href="" target="_blank">Richard Timberlake</a>, professor emeritus from the University of Georgia, and <a href="" target="_blank">Guillermo Calvo</a>, a&nbsp;professor of economics at Columbia University, also serve on the council.</p> <p><a href="">James A. Dorn</a>, Vice President for Monetary Studies and the long‐​time director of Cato’s <a href="">annual monetary conference</a>, will play a&nbsp;major role in management of the Center. <a href="">Mark Calabria</a>, Director of Financial Regulation Studies at Cato, will also move to the new Center. Before joining Cato in 2009, Calabria served six years as a&nbsp;senior staff member of the Senate Committee on Banking, Housing and Urban Affairs.</p> <p>“Our intent is that the work of the Center will result in a&nbsp;comprehensive, practical roadmap for implementing the fundamental policy reform needed to preserve liberty and prosperity through a&nbsp;free market monetary and financial system,” Selgin said.</p> <p><strong><em>Council of Academic Advisors</em></strong><br>Leszek Balcerowicz, Professor of Economics, College of Europe; former Chairman of the National Bank of Poland, and former Finance Minister and Deputy Prime Minister <br>Charles W. Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University Graduate School of Business<br>Guillermo Calvo, Professor of Economics and Director of the Program in Economic Policy Management, Columbia University <br>Kenneth French, Carl E. and Catherine M. Heidt Professor of Finance, Tuck School of Business, Dartmouth College<br>Edward J. Kane, Professor of Finance, Boston College<br>George Kaufman, John F. Smith Jr. Professor of Finance and Economics, Loyola University Chicago<br>David Laidler, Professor of Economics (Emeritus), University of Western Ontario <br>Bennett T. McCallum, H. J. Heinz Professor of Economics, Carnegie Mellon University<br>Thomas J. Sargent, Nobel Laureate (Economics) and Professor of Economics, New York University<br>Vernon L. Smith, Nobel Laureate (Economics) and Professor of Economics, Chapman University <br>John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University<br>Richard H. Timberlake, Professor Emeritus (Economics), University of Georgia<br>William R. White, Chairman, Economic Development and Review Committee, OECD (Paris); former Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements<br>Randall Wright, Ray Zemon Professor of Liquid Assets and Professor of Economics, University of Wisconsin‐​Madison<br>Leland B. Yeager, Professor Emeritus (Economics), Auburn University and University of Virginia</p> <p><strong><em>Executive Advisory Council</em></strong><br>John A. Allison, President and CEO, Cato Institute, and former Chairman and CEO, BB&amp;T Corporation<br>Sean Fieler, President of Equinox Partners, L.P. and the Kuroto Fund, L.P<br>Robert Gelfond, CEO and Founder, MQS Management<br>James Grant, Founder and Editor, Grant’s Interest Rate Observer<br>Richard Kovacevich, Chairman Emeritus, Wells Fargo and Co.<br>Robert L. Luddy, Founder and CEO, CaptiveAire<br>George Melloan, Former Deputy Editor, <em>Wall Street Journal</em><br>Judy Shelton, Co‐​Director, Sound Money Project, Atlas Network<br>Jeffrey S. Yass, Managing Director, Susquehanna International Group</p> <p><strong><em>Senior Fellows</em></strong><br>Steve H. Hanke, Professor of Applied Economics, The Johns Hopkins University<br>Jim Harper, Global Policy Counsel, the Bitcoin Foundation<br>Gerald P. O’Driscoll, Jr., former Vice President, Federal Reserve Bank of Dallas<br>William Poole, former President &amp;&nbsp;CEO, Federal Reserve Bank of St. Louis<br>Lawrence H. White, Professor of Economics, George Mason University</p> <p><strong><em>Adjunct Scholars</em></strong><br>David Beckworth, Assistant Professor of Economics, Western Kentucky University<br>Kevin Dowd, Visiting Professor, Pensions Institute at Cass Business School, London<br>Gerald Dwyer, Visiting Professor and BB&amp;T Scholar, Clemson University <br>Bert Ely, Principal, Ely &amp;&nbsp;Company, Inc.<br>Tyler Beck Goodspeed, Junior Fellow, Faculty of Economics, University of Oxford<br>Jerry L. Jordan, former President &amp;&nbsp;CEO, Federal Reserve Bank of Cleveland<br>Will Luther, Assistant Professor of Economics, Kenyon College <br>Jonathan R. Macey, Deputy Dean, Corporate Law, Corporate Finance, &amp;&nbsp;Securities Law, Yale<br>Pedro Schwartz, Fundación Rafael del Pino Research Professor, Universidad San Pablo CEU, Madrid, Spain<br>Todd Zywicki, George Mason University Foundation Professor of Law, George Mason University</p> </div> Tue, 21 Oct 2014 09:15:00 -0400 Cato Names Barney and Goettler to Board <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Washington, D.C. (September 26, 2014) — The Cato Institute Board of Directors, in a&nbsp;meeting held on Saturday, September 20, 2014, expanded its membership by two. The new directors are:</p> <ul><li>Carl Barney, Chairman, Center for Excellence in Higher Education</li> <li>Peter Goettler, former Managing Director, Barclays Capital</li> </ul><p>Carl Barney is the chairman of the Center for Excellence in Higher Education (CEHE), a&nbsp;non‐​profit organization consisting of 20 colleges, including an online university, serving nearly 10,000 students in six western states. The schools offer associate, bachelor and masters degrees in business, information technology, graphic arts and healthcare. Mr. Barney also serves on the boards of the Ayn Rand Institute, the Clemson Institute for the Study of Capitalism, the LePort Schools and Business Education Research Associates (BERA).</p> <p>Peter Goettler retired as a&nbsp;managing director and head of Investment Banking and Debt Capital Markets, Americas, at Barclays Capital, the investment banking division of Barclays Bank, PLC, in 2008. He also served as chief executive officer of the firm’s businesses in Latin America and head of Global Loans and Global Leveraged Finance. Goettler is currently Chairman of the Board of the New York City‐​Southern New York chapter of the National MS Society and serves on the board of the Atlas Network.</p> </div> Fri, 26 Sep 2014 10:30:00 -0400 Cato Announces Newly Expanded Center for the Study of Science <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p>The Cato Institute announced today the expansion of its Center for the Study of Science. Founded in 2012, the Center for the Study of Science was created to provide market‐​based ideas that could transition policy regarding energy consumption, environmental standards, and other science‐​related issues away from government planners.</p> <p>Today, the Center is adding scholars to a&nbsp;team that will continue to use rigorous science to answer questions related to environmental regulation. The Center will be especially focused on the debate over <a href="">climate change</a>.</p> <p><a href="">Patrick J. Michaels</a>, who will continue to direct the center, acknowledges climate change is occurring partly due to human actions. He does not believe, however, that these temperature fluctuations are cause for great alarm.</p> <p>“Yes — burning fossil fuels to get the energy we need to advance as a&nbsp;global society does create carbon dioxide that recycles warming in the lower atmosphere,” said Michaels. “But despite what some scientists and politicians tell you, life as we know it will not end next week, next month or even in the next 500&nbsp;years due to a&nbsp;warming planet. Policy makers need to know that there is a&nbsp;respectable group of scientists out there who don’t buy in to the alarmist hype.”</p> <p>President Obama is pursuing an international agreement on carbon emissions that sidesteps Congressional ratification, an issue he is expected to discuss at a&nbsp;United Nations climate summit in New York next week. Michaels warns the President is “playing fast and loose with the Constitution.”</p> <p>“We believe that some highly qualified scientists should be taking a&nbsp;more clear‐​eyed look at the data policy makers are using to draw conclusions which have resulted in a&nbsp;regulatory structure that inhibits economic activity and stifles innovation,” said Michaels.</p> <p><a href="">Ross McKitrick</a>, who teaches environmental economics at the University of Guelph, and <a href="">Terence Kealey</a>, Vice Chancellor of the University of Buckingham and a&nbsp;professor of clinical biochemistry, have been named adjunct scholars at the Center. They join Distinguished Senior Fellow <a href="">Richard Lindzen</a>, an emeritus professor of meteorology at both MIT and Harvard; Adjunct Scholar <a href="">Edward J. Calabrese</a>, a&nbsp;professor of environmental health sciences at the University of Massachusetts, specializing in toxicology; and <a href="">Paul C. “Chip” Knappenberger</a>, assistant director of the Center.</p> <p>The Center for the Study of Science will seek to provide a&nbsp;credible source for media and members of the public who want a&nbsp;fresh perspective on scientific claims made by government and other research organizations. Research areas will include energy use and taxation; use of government subsidies; global warming; and overall environmental regulation.</p> <p>“The truth is, counter to what President Obama claimed in 2010, the science on climate change is not settled,” said Cato President and CEO, John Allison. “The time is now to build a&nbsp;critical mass of credible scholars who can engage in the type of debate the public needs to hear in order to make informed decisions.”</p> <p>Michaels said additional scholars and scientists will be named to the Center for the Study of Science in the coming months.</p> </div> Thu, 18 Sep 2014 11:30:00 -0400 Recipient of the 2014 Milton Friedman Prize: Leszek Balcerowicz <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong> <div data-embed-button="image" data-entity-embed-display="view_mode:media.full" data-entity-type="media" data-entity-uuid="1ec2ba4e-a47d-4eef-a386-8b8f1367c36a" class="align-left embedded-entity" data-langcode="en"> <img width="230" height="289" alt="Leszek Balcerowicz" class="lozad component-image" loading="lazy" data-srcset="/sites/ 1x, /sites/ 1.5x" data-src="/sites/" typeof="Image" /></div> Washington, D.C. (April 17, 2014) –</strong> The Cato Institute announced today that Leszek Balcerowicz, former Deputy Prime Minister and Finance Minister of Poland, will receive the <a href="">2014 Milton Friedman Prize for Advancing Liberty</a>, a $250,000 biennial award presented to an individual for achievement in promoting freedom and individual liberty. </p> <p>Balcerowicz has been widely credited with the economic transformation of Poland. He liberalized the prices of most consumer goods and initiated sound fiscal and monetary measures designed to balance the budget and end hyperinflation. </p> <p>A former member of the Polish United Workers’ Party, Balcerowicz became Deputy Prime Minister and Finance Minister in 1989 under Tadeusz Mazowiecki, Eastern Europe’s first non‐​communist leader since the end of World War II. He held those positions again from 1997 to 2000. </p> <p>From 2001 to 2007, Balcerowicz served as the chairman of the National Bank of Poland. </p> <p>“Leszek Balcerowicz’s contributions to the advancement of liberty and free markets in Eastern Europe cannot be overstated,” said Cato CEO John Allison. “Poland now serves as a model that other countries may follow in transitioning from socialism to a humane economy based on individual responsibility and the rule of law.” </p> <p>He has been awarded Poland’s highest decoration, the Order of the White Eagle, for his contribution to the country’s economic transformation. As the <em>Wall Street Journal</em> noted, “As an economic crisis manager, Leszek Balcerowicz has few peers. When communism fell in Europe, he pioneered ‘shock therapy’ to slay hyperinflation and build a free market. In the late 1990s, he jammed a debt ceiling into his country’s constitution, hand¬cuffing future free spenders. When he was central‐​bank governor from 2001 to 2007, his hard‐​money policies avoided a credit boom and likely bust.” </p> <p>Poland was the only country in the European Union to avoid the 2009 recession, and it has been the fastest growing E.U. economy since. </p> <p>Balcerowicz holds a Ph.D. from the Warsaw School of Economics. He has authored several books and numerous journal publications, and is most recently the author of <em>Discovering Freedom</em>, an extensive collection of foundational essays from leading classical liberal thinkers that includes everyone from Adam Smith and Alexis de Tocqueville to F. A. Hayek and Milton Friedman. The book was a bestseller in Poland. </p> <p>Established in 2002 and presented every two years, the Milton Friedman Prize for Advancing Liberty is the leading international award for significant contributions to advancing individual liberty. </p> <p>The prize will be presented during a dinner at the Waldorf‐​Astoria Hotel in New York on May 21, 2014. Garry Kasparov, former world chess champion, Russian pro‐​democracy leader, and global human‐​rights activist, will deliver the Keynote Address. </p> <p>Previous winners include Chinese economist Mao Yushi; Iranian writer and journalist, Akbar Ganji; leader of a Venezuelan pro‐​democracy movement, Yon Goicoechea; former Prime Minister of Estonia Mart Laar; Peruvian economist Hernando de Soto; and the late British economist Peter Bauer. </p> <p>Leszek Balcerowicz was chosen to receive the award from a public, worldwide nomination process. The members of the 2014 International Selection Committee are: </p> <ul><li><strong>John A. Allison</strong>, President and CEO, The Cato Institute</li> <li><strong>David Friedman</strong>, Professor of Law, Santa Clara University</li> <li><strong>Giancarlo Ibárgüen</strong>, Board of Trustees, Universidad Francisco Marroquín, Guatemala</li> <li><strong>Václav Klaus</strong>, Distinguished Senior Fellow, Cato Institute and Former President, Czech Republic</li> <li><strong>Mao Yushi</strong>, Economist; Recipient, 2012 Friedman Prize for Advancing Liberty, China</li> <li><strong>Leo Melamed</strong>, Chairman Emeritus, CME Group and Chairman, Melamed &amp; Associate</li> <li><strong>Mary Anastasia O’Grady</strong>, Member, Editorial Board, Wall Street Journal</li> <li><strong>Parth Shah</strong>, Founder &amp; President, Centre for Civil Society, India</li> <li><strong>Vernon L. Smith</strong>, Nobel laureate, Professor of Economics and Law, Chapman University</li> </ul> </div> Thu, 17 Apr 2014 08:30:00 -0400 Cato Names Bond, Kilts, and Lapeyre to Board <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p><strong>Washington, D.C. (April 1, 2014) –</strong> The Cato Institute Board of Directors, in a&nbsp;meeting held on Saturday, March 29, 2014, expanded its membership by three.</p> <p>The new directors are:</p> <ul><li>Baron Bond, Executive Vice President, The Foundation Group LLC</li> <li>James M. Kilts, Partner, Centerview Capital Holdings; former CEO, Gillette Co.</li> <li>James M. Lapeyre, President, Laitram LLC</li> </ul><p>Baron Bond is an executive at The Foundation Group, a&nbsp;real estate management, investment, and development company based in Baltimore. Prior to working in real estate development, Mr. Bond practiced corporate and real estate law in New York City at the premier law firms of White &amp;&nbsp;Case and Skadden, Arps. He is a&nbsp;trustee of the Reason Foundation.</p> <p>James M. Kilts is a&nbsp;Founding Partner of Centerview Capital, a&nbsp;private equity firm. Mr. Kilts served as Chairman of the Board, President and Chief Executive Officer of The Gillette Company from 2001 until it merged with P&amp;G in October 2005; at that time he became Vice Chairman of the Board of The Procter &amp;&nbsp;Gamble Company. Prior to that, he served as CEO at the Nabisco Company, and held senior positions with the Worldwide Food Group of Phillip Morris, Kraft and General Foods Corporation.</p> <p>James M. Lapeyre is President of Laitram, LLC. Laitram is a&nbsp;global manufacturer of plastic conveyor belting, shrimp processing equipment, and space‐​saving stairs. He is Board Chair of ION Geophysical, a&nbsp;NYSE company that provides seismic technology services and solutions to the global energy industry. Mr. Lapeyre is the immediate past chair of the Tulane Board of Administrators, a&nbsp;member of the A. B. Freeman Business School Council, and board chair of The Atlas Society.</p> </div> Tue, 01 Apr 2014 15:15:00 -0400 Kirby Joins Cato as Vice President of Development <div class="mb-3 spacer--nomargin--last-child text-default"> <p>Media Contact: (202) 789‑5200</p> </div> , <div class="mb-3 spacer--nomargin--last-child text-default"> <p> </p><div data-embed-button="image" data-entity-embed-display="view_mode:media.full" data-entity-type="media" data-entity-uuid="8ce6fbe3-4c18-4b3c-b6e1-24956eb3ba1e" class="align-right embedded-entity" data-langcode="en"> <img width="204" height="204" alt="Media Name: david-kirby-release.jpg" class="lozad component-image lozad" loading="lazy" data-srcset="/sites/ 1x, /sites/ 1.5x" data-src="/sites/" typeof="Image" /></div> <strong>Washington, D.C. (March 18, 2014) —</strong> The Cato Institute announced today that David Kirby will be joining the libertarian think tank as Vice President of Development and Senior Fellow. <p>Kirby was most recently Vice President at FreedomWorks. He has served as campaign executive director for the Institute for Humane Studies (IHS) at George Mason University and was executive director of America's Future Foundation.</p> <p>He has also been a long-time member of the Cato family, joining the institute in 2001 as a government affairs associate after graduating from Bates College. In 2006 Kirby became an associate policy analyst and, together with Emily Ekins, coauthored a book on the libertarian vote with Cato's Executive Vice President David Boaz.</p> <p>"I am thrilled to welcome David back to the Cato family," said John A. Allison, Cato's President and CEO. "His institutional knowledge of our work and research, together with his experience make him the best choice for Cato."</p> <p>"Libertarianism is on the rise, and there's no more important institution in the world to winning hearts and minds than the Cato Institute," said Kirby. "I'm honored to be a part of the Cato team."</p> <p>Kirby's writing has appeared in <em>Politico</em>, <em>National Review Online</em>, <em>Tech Central Station</em>, <em>Human Events</em>, and among publications, and his research has been cited in <em>The Economist</em>, <em>New York Times</em>, <em>Wall Street Journal</em>, <em>Washington Times</em>, <em>National Review</em>, and <em>National Journal</em>.</p> <p>Kirby holds a bachelor's degree in rhetoric from Bates College and a master's in public policy from Harvard's Kennedy School of Government.</p> </div> Tue, 18 Mar 2014 12:15:00 -0400