Fiscal Policy Report Card on America’s Governors 2016

In the new “Fiscal Policy Report Card on America’s Governors,” Cato scholar Chris Edwards examines the tax and spending decisions made by U.S. governors since 2014. Governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades. Only five governors were awarded an “A” in this latest report card — Paul LePage of Maine, Pat McCrory of North Carolina, Rick Scott of Florida, Doug Ducey of Arizona, and Mike Pence of Indiana.

New Cato Journal Looks at Adverse Effects of Unconventional Monetary Policy, Climate Change, and China

Following the recent waves of financial crises in the advanced economies and a prolonged period of low interest rates, major parts of the world economy are experiencing low growth, a rise in financial volatility, and low rates of inflation. In the new issue of Cato Journal, Andreas Hoffmann and Gunther Schnabl suggest that an end of ultra-low interest rate policies is a prerequisite for a return to a sustainable growth path. Also in this issue, Brian J. L. Berry, Jayshree Bihari, and Euel W. Elliott argue that the poisoned debate over climate change runs the risk of contaminating the entire scientific endeavor, and Tain-Jy Chen and Ying-Hua Ku discuss the unique combination of weak institutions and strong organizations that underlie the development of China’s Internet industry.

A Costly Commitment: Options for the Future of the U.S.-Taiwan Defense Relationship

America’s security commitment to Taiwan faces a significant test. China’s growing power presents a challenge to U.S. military superiority, while Taiwan’s investment in its own defense has languished. In a new paper, Cato scholar Eric Gomez outlines three broad policy options for the United States, and recommends that the United States step down, incrementally and over the long-term, from its commitment to use military force to maintain Taiwan’s de facto independence. “Peace in the Taiwan Strait is an important American interest,” says Gomez, “but it must be weighed against the difficulty of maintaining credibility and the growing costs of deterrence failure.”

Dose of Reality: The Effect of State Marijuana Legalizations

Supporters and opponents of ballot initiatives that legalize marijuana for recreational use make numerous claims about state-level marijuana legalization. Systematic evaluation of these claims, however, has been largely absent – until now. A new paper from Angela Dills, Sietse Goffard, and Jeffrey Miron assesses recent marijuana legalizations and related policies in Colorado, Washington, Oregon, and Alaska. The authors conclude that state marijuana legalizations have had minimal effect on marijuana use and related outcomes. The absence of significant adverse consequences is especially striking given the sometimes dire predictions made by legalization opponents.

Recent Commentary

Bulk-Scanning E-mail for Spy Agencies

If the government is going to be compelling companies to scan everyone’s communications in its hunt for terrorists, the public is entitled to understand the legal framework within which it plans to do so.

Events

November 2

Debate: Should Libertarians Vote?

Featuring Jim Harper, Senior Fellow, Cato Institute; Michael Cannon, Director of Health Policy Studies, Cato Institute; and Aaron Ross Powell, Research Fellow and Editor, Libertarianism.org, Cato Institute; Trevor Burrus, Research Fellow, Center for Constitutional Studies, Cato Institute; moderated by Jason Kuznicki, Research Fellow and Editor, Cato Unbound, Cato Institute.

5:00PM to 6:00PM
Hayek Auditorium, Cato Institute

Of Special Note

What Is Justice?

Political Philosophy: An Introductio

Political Philosophy: An Introduction is the latest in a series of self-paced, online guides from Libertarianism.org – a project of the Cato Institute. The goal of political philosophy is to determine the standards by which we judge different institutions good or bad, just or unjust. Political Philosophy is a primer on major theories of justice, arguments philosophers have made for and against them, and to how to be more thoughtful and rigorous in our own thinking. Guides – videos and accompanying text – are detailed at Libertarianism.org/Guides – and are also available through online retailers nationwide.

Special! 10 Copies for $10

Cato Pocket Constitution

To encourage people everywhere to better understand and appreciate the principles of government that are set forth in America’s founding documents, the Cato Institute published this pocket-size edition.

Now Available

The Libertarian Mind Audiobook

The Libertarian Mind, by David Boaz, longtime executive vice president of the Cato Institute, is the best available guide to the history, ideas, and growth of libertarianism, and is the ultimate resource for the current, burgeoning libertarian movement. This acclaimed book is now available as a fully unabridged audiobook, ready for immediate downloading, on Audible.com.

34th Annual Monetary Conference

The lack of any monetary rule to guide policy decisions has created great uncertainty and increased financial volatility. Zero or negative interest rates and quantitative easing have created severe distortions in asset markets by increasing risk taking and politicizing credit allocation while failing to bring about robust economic growth. At Cato’s annual monetary conference, leading experts will address the risks inherent in the unconventional monetary policies of the world’s leading central banks and the steps that need to be taken to restore long-run economic growth.