The financial analyst Richard Daughty, whose pen name was Mogambo Guru, passed away four years ago, but while he was alive, he produced spot-on criticisms of the US government and its inflation rocket fuel booster, the Federal Reserve System.

The Appalachian region, while always relatively poor, had strong families and institutions that held things together. In the aftermath of the expansion of the welfare state and the shrinking of the iron, steel, and coal industries, we have seen social breakdowns and increasing drug addiction.

Time is a unique resource in economics because we cannot create more of it and are subject to its limitations. Ludwig von Mises and the Austrians understand the role of time in economic better than most other mainstream economists.

In this week’s Friday Philosophy, Dr. David Gordon revisits Wilmoore Kendall’s The Conservative Affirmation, which takes issue with Abraham Lincoln and his views on equality.