Linked here is this morning’s NRO post from Cato’s Gene Healy and Jerry Taylor regarding serious flaws in the Koch brothers’ public attack on the Cato Institute. Cited within is a declaration attributed to David Koch outlining a need for a truly “independent” board, followed by a list of Koch-proposed directors. Referring to this crowd as independent is preposterous. Also included is commentary from David Koch regarding what Mr. Koch refers to as Cato’s subpar performance. Mr. Healy and Mr. Taylor refute this by referencing how the independent University of Pennsylvania ranks Cato’s performance. Cato ranks ahead of Heritage Foundation, American Enterprise Institute and Hoover Institute.
I have been in the business of economic and monetary research for nearly five decades. My independent view of the above is that Cato Institute indeed stands above the other three mentioned. As to Cato not being as effective as it could be, perhaps if either David or Charles Koch were to have attended the recent packed-to-walls Cato summit meetings in Naples and Palm Beach, they might revise their thinking. In Palm Beach I spent time with CEO Ed Crane and chairman Bob Levy and attended lengthy and excellent presentations by both Mr. Healy and Mr. Taylor. In fact I participated in every Cato policy session and workshop I could fit in. Years ago, I traveled the globe speaking at sizable investment seminars. None of the seminars I spoke at were anywhere near the caliber of the summits offered by Cato Institute.
No matter how rich and successful they may be, I think the path the Koch brothers are on regarding the Cato Institute is just plain nuts. In this regard I have recently increased my personal annual financial support to the Ed Crane/Bob Levy-led Cato Institute by 50%. I am independent of the Cato Institute, as I am of the Republican and Democratic parties. My sole interest is obtaining economic and monetary information that allows me to formulate global investment policy on behalf of my family investment management firm. To this end, Cato Institute delivers the goods in spades.