Zohran Mamdani WILL freeze the rent (on World Cup tickets!)
New York's new mayor is already making promises he cannot keep in this or any other universe. That didn't take long.
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Is Zohran Kwame Mamdani really this misinformed about how capitalism works?
New York City is about to find out.
The 34-year-old Mamdani has been grabbing headlines since becoming New York’s mayor last week. In his inaugural speech, Mamdani promised to “replace the frigidity of rugged individualism with the warmth of collectivism,” a line almost funny as a parody of Soviet propaganda — if Mamdani did not seem to believe every word.
“I was elected as a Democratic socialist and I will govern as a Democratic socialist,” Mamdani said. “I will not abandon my principles for fear of being deemed radical.”
Unfortunately for the city and its taxpaying and employed residents, Mamdani’s principles do not include a basic understanding of economics — as his comments yesterday on ticket prices for this summer’s FIFA World Cup showed. In Mamdani’s New York, supply and demand are out; price controls are in. Back to the future, baby!
It may be a long four years in the world’s financial capital.
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