Zohran Mamdani's 'revolution' isn't a socialist dream or capitalist nightmare
Source: Business Insider ·
A year after Zohran Mamdani's election, a slow-motion economic revolution is underway — from small wins and filled potholes to rent freezes.
From the source
Zohran Mamdani became mayor of New York City on a simple, focused economic platform: fast and free buses, universal childcare, cheaper groceries, and a rent freeze. His supporters envisioned him ushering in a fresh economic order. His critics feared the worst — a cabal of heavy-handed leftists who would plunge the city into fiscal chaos. A year after Mamdani's election, New York's economy doesn't look like the stuff of socialist dreams — or capitalist nightmares. Zohranomics is unfolding at a piecemeal pace. Unable to unilaterally raise taxes on the rich, the mayor is championing a pied-à-terre tax on wealthy residents who don't live in the city full-time (or say so on their tax filings). His municipal grocery store endeavor is a modest five-location work in progress. The city is focused on the "fast" half of the bus plan and has put the "free" part on the back burner. Like his predecessors, Mamdani is dedicating a lot of time and resources to housing. He orchestrated a rent freeze…
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