Source: Reason
by Peter Suderman
“Mamdani’s promise was that, as mayor, he would defeat high prices. But many of Mamdani’s signature ideas are variations on price controls. Take a deeper look at his policies, and it becomes clear that he ran against prices, period. It’s not surprising that a self-declared socialist would make price controls a central part of his economic program. The conceit at the heart of socialism is that when it comes to the economy, politicians and bureaucrats know best. But prices, when they are allowed to work, are signals that provide decentralized information. Price controls don’t solve economic problems; they disguise them, making it harder to know what’s happening. Prices are messages, and Mamdani wants to shoot the messenger.” (for publication 2/26)
https://reason.com/2025/12/30/zohran-mamdanis-prices-crises/