Source: The Daily Economy
by Alex Tokarev, Daniel J Smith, & Kristin Tokarev
“New York City, the bastion of global capitalism, is on the verge of electing its first socialist mayor, Zohran Mamdani. Many of his socialist visions for the metropolis fail basic economics. Worst of all is his proposal to freeze the price of rent. It ignores decades of empirical evidence that rent control harms the very residents Mamdani hopes to help. Socialists are infamous for stubbornly rejecting the laws of economics in pursuit of utopian fantasies. Yet rent control has led to such obvious and abysmal failures around the globe that even hard-core socialists have disavowed it.” (10/01/25)
https://thedailyeconomy.org/article/the-big-chill-mamdanis-rent-freeze-fantasy/