One of the problems we’re forced to confront when considering the role of the Federal Reserve is whether it’s better for the Fed to take losses and capitalize them as deferred assets, or go back to an era of “Fed profitability” whereby the Fed remitted money to the Treasury on a weekly basis.

It is widely held that a growing economy requires a growing money stock because economic growth increases demand for money. Many economists also believe that failing to accommodate the increase in the demand for money leads to a decline in consumer prices. This could destabilize the economy and produce an economic recession or even a depression.

The Revolt against Humanity: Imagining a Future without Us
by Adam Kirsch
Columbia Global Reports, 2023; 100 pp.

Aristotle says in book 1 of the Nicomachean Ethics that “happiness, therefore, being found to be something final and self-sufficient, is the End at which all actions aim.” The Greek word eudaimonia, “happiness” in this edition, is often translated as “flourishing.”

Why did Fox News fire Tucker Carlson? Some claim that Tucker had planned to leave the network all along, and merely resigned. He had even had a studio built in his own home. He was fed up with Fox and decided to call it quits, so the story goes. But this theory is belied by the fact that Tucker’s production team was taken entirely by surprise by the news. For instance, I received the following text message from Scooter Downey, a producer of Tucker Carlson Originals, in response to my query after the announcement: “No idea what’s going on. Crazy!”

Earlier this month, Larry Kudlow insisted that it is “it’s incumbent on the U.S. government, no matter who’s in power, to maintain the reserve currency status of the dollar.” Kudlow laments that a toppling of the dollar from that perch ”seems to be the direction we’re going in.”