The Cato Journal articles

Recent articles from The Cato Journal

Reflections on the financial crisis.
January 1, 2009... I am going to make several unrelated points, and then I am going to discuss how we got into this financial crisis and some needed changes to reduce the risk of future crises. Some Observations First, we should close down as promptly as possible Fannie Mae and Freddie Mac. There never...

After War: The Political Economy of Exporting Democracy.
January 1, 2009... After War: The Political Economy of Exporting Democracy Christopher J. Coyne Stanford, Calif.: Stanford University Press, 2006, 238 pp. Christopher Coyne's book seeks to contribute to an understanding of the "precise mechanisms and contexts that contribute to or prevent"...

Aggregate supply-driven deflation and its implications for macroeconomic stability.
September 22, 2008... Deflation is generally considered to be inconsistent with macroeconomic stability. Any sustained decline in the price level is widely believed to be associated with weak to negative economic growth, a lower bound of zero on the policy interest rate, and an increase in financial...

Sustained economic growth: do institutions matter, and which one prevails?
September 22, 2008... In 1965, the growth rate of per capita GDP in Niger and Nigeria was 2.1 percent and 4.2 percent, respectively, and 2.9 percent in Botswana. From 1966 to 1969, however, Niger and Nigeria recorded a negative growth rate, while Botswana continued to experience a positive growth rate over the...

Censoring and destroying information in the information age.
September 22, 2008... Almost everyone knows the importance of information and communication to economic progress. The more information we have the more productive we can be, both individually and collectively. The easier it is for us to communicate our information to others and to receive their information, the...