Cato Quarterly

Events

In November, Cato hosted a film screening of the Acton Institute’s documentary, The Hong Konger: Jimmy Lai’s Extraordinary Struggle for Freedom. Jimmy Lai was the recipient of the 2023 Milton Friedman Prize for Advancing Liberty.

Jimmy Lai’s Struggle for Freedom

In November, Cato hosted a film screening of the Acton Institute’s documentary, The Hong Konger: Jimmy Lai’s Extraordinary Struggle for Freedom. Jimmy Lai was the recipient of the 2023 Milton Friedman Prize for Advancing Liberty.

Travis Hill, left, vice chairman at the Federal Deposit Insurance Corporation (FDIC), discusses recent regulatory actions with Norbert Michel, vice president and director of the Cato Institute’s Center for Monetary and Financial Alternatives, six months after the high-profile failures of Silicon Valley Bank and Signature Bank.

Insights on the FDIC’s Agenda

Travis Hill, left, vice chairman at the Federal Deposit Insurance Corporation (FDIC), discusses recent regulatory actions with Norbert Michel, vice president and director of the Cato Institute’s Center for Monetary and Financial Alternatives, six months after the high-profile failures of Silicon Valley Bank and Signature Bank.

The Cato Institute’s Sphere Education Initiatives hosted Nadine Strossen, right, for a special release of her new book, Free Speech: What Everyone Needs to Know. Strossen discussed how recent years have produced increasing attacks on the idea of free speech with Allan Carey, director of Sphere Education Initiatives.

Fortifying the Foundations of Free Speech

The Cato Institute’s Sphere Education Initiatives hosted Nadine Strossen, right, for a special release of her new book, Free Speech: What Everyone Needs to Know. Strossen discussed how recent years have produced increasing attacks on the idea of free speech with Allan Carey, director of Sphere Education Initiatives.

Cato’s Center for Monetary and Financial Alternatives Annual Conference featured a fireside chat with Sen. Bill Hagerty (R‑TN), left, moderated by Jennifer Schulp, Cato’s director of financial regulation studies. Panels of experts discussed crypto regulation, stablecoins, and US competitiveness.

Staying Ahead of the Crypto Curve

Cato’s Center for Monetary and Financial Alternatives Annual Conference featured a fireside chat with Sen. Bill Hagerty (R‑TN), left, moderated by Jennifer Schulp, Cato’s director of financial regulation studies. Panels of experts discussed crypto regulation, stablecoins, and US competitiveness.

Leading student debaters from the Washington Urban Debate League in Washington, DC, visited Cato for the Sphere Education Initiatives special event “I RESOLVE: A Public Student Debate on Economic Equity.” They were joined by an expert panel of judges from across the ideological spectrum who offered feedback and insights after the debate.

Economic Equity Debate at Cato

Leading student debaters from the Washington Urban Debate League in Washington, DC, visited Cato for the Sphere Education Initiatives special event “I RESOLVE: A Public Student Debate on Economic Equity.” They were joined by an expert panel of judges from across the ideological spectrum who offered feedback and insights after the debate.

Free Society - Why and How Argentina Should Dollarize

Why and How Argentina Should Dollarize

Ian Vásquez, top, Cato’s vice president for international studies, was joined by Manuel Hinds, bottom left, the former minister of finance of El Salvador, and Emilio Ocampo, bottom right, adviser on dollarization to Argentina’s new president Javier Milei, to discuss the need for Argentina to replace the peso with the dollar in the policy forum “Why and How Argentina Should Dollarize.”

Defending Globalization: Discussion with WTO Director-General

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), joined Scott Lincicome, Cato’s vice president of general economics and the Herbert A. Stiefel Center for Trade Policy Studies, for a discussion on the threats facing both the WTO and globalization more broadly, as well as their implications for the global economy, developing countries, and the world’s most vulnerable people.

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), joined Scott Lincicome, Cato’s vice president of general economics and the Herbert A. Stiefel Center for Trade Policy Studies, for a discussion on the threats facing both the WTO and globalization more broadly, as well as their implications for the global economy, developing countries, and the world’s most vulnerable people.
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Publications

The Capitalist Manifesto cover image (with black border)

Yes, Free Markets Will Save the World

Capitalism has lifted billions from hunger and poverty. Today, a story about global capitalism, told by right-wing and left-wing populists as well as large sections of the political and economic establishment, does not deny that prosperity has been created but says that it ended up in far too few hands.

In The Capitalist Manifesto: Why the Global Free Market Will Save the World, renowned author and Cato senior fellow Johan Norberg challenges popular economic narratives and delves into the transformative capabilities of free markets. He sheds light on how free markets have catalyzed unparalleled economic growth, lifting countless individuals from the shackles of poverty while ushering in an era of remarkable innovation.

Norberg provides a balanced and nuanced perspective on free markets, addressing common criticisms while emphasizing that a move away from global capitalism would reduce growth, making everyone worse off. For those seeking to understand the principles underpinning global economic systems and the potential they hold for advancing societies, The Capitalist Manifesto is a must-read.

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“Norberg is perhaps the world’s most effective defender of free-market capitalism. In this book he returns to the theme that ‘freedom of choice and competition’ are the engines of economic progress. He is, of course, correct. Moreover, the evidence is also that more prosperous societies are in general happier ones.”

— Martin Wolf, chief economics commentator for the Financial Times

Discover the World’s Epicenters of Progress

Cities have been vital in driving humanity forward, both the ancient wonders of antiquity and the modern metropolises that shape our global landscape. Centers of Progress: 40 Cities That Changed the World by Cato policy analyst Chelsea Follett takes readers on a captivating journey through 40 pivotal advancements in history. From the birthplace of writing in Uruk to the development of philosophy in Athens to the establishment of a liberal democracy in Philadelphia, each city is a testament to human resilience, innovation, and adaptability.
Most cities, Follett found, reached their creative peak during times of social, intellectual, and economic freedom.

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Better, More Affordable, and More Secure Health Care

Health care in the United States is not a free market. In fact, the government controls a larger share of health spending than most other advanced nations. State and federal governments subsidize low-quality medical care and penalize high-quality care. Michael F. Cannon, director of health policy studies, created this quick-reference guidebook for policymakers and the public to identify and easily understand the many government barriers that must be ended so that markets can transform the US health care sector into one that is more affordable, more secure, more universal, and of a higher quality.

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Freedom in the 50 States 2023 front cover image

How Free Is Your State?

Americans vote with their feet—or their U‑Hauls, rather—and they continue to be repelled by big government policies. Freedom in the 50 States was the first index at any level to measure both economic and personal freedoms and remains the only index to do so at the state level. It compares the states on regulatory, fiscal, and personal freedoms.

New Hampshire, Florida, South Dakota, Nevada, and Arizona intervene in their residents’ lives the least, while New York, Hawaii, California, New Jersey, and Oregon exercise the most control over citizens after accounting for all variables. Research fellow William Ruger and adjunct scholar Jason Sorens provide policy recommendations for each state, track the state’s trajectory over time, and detail the state’s policies across the economic and personal categories.

The index is a catalyst for reform. For example, in a public forum with Ruger, New Hampshire Governor Chris Sununu agreed that his state had plenty to improve on, including legalizing marijuana. This edition has already been discussed on NPR, Fox Business Network, and C‑SPAN and in the New York Post, Washington Examiner, and Newsweek.

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Featured Studies

Freeing American Families

Policy analysts often assume that pro-fertility and pro-family policies must include direct payments to families or the development of new social spending programs. But in many countries, these policies have been expensive and unsuccessful at raising fertility back to replacement levels and sustaining it there. Instead of replicating costly and unsuccessful international initiatives, policymakers should recognize that a genuinely pro-family policy means less government, not more.

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Terrorism and Immigration

Terrorism presents a real threat to the life, liberty, and property of Americans. That has led many Americans to worry about foreign-born terrorists entering the United States, either legally or illegally, and carrying out disastrous attacks. But the annual chance of being murdered in a normal homicide is about 316 times as great as dying in an attack committed by a foreign-born terrorist on US soil. This policy analysis examines the past, so it does not project future trends. Nonetheless, the past is the best guide to understanding what could happen with foreign-born terrorism in the coming years.

Alex Nowrasteh Terrorism and Immigration

Recent Cato Studies

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