Source: Fox News Forum
by Michael J Boskin
“Democratic Socialist New York City Mayor Zohran Mamdani is focusing on affordability. But his ‘free stuff’ policy agenda would flunk an introductory economics midterm. For example: free bus rides will increase demand and cause overcrowding as service deteriorates. Can you envision New Yorkers queuing up like Londoners? Ditto free childcare, with risk of fraud. Ditto rent freezes, which are not likely to spur a rent-relieving housing supply surge. Does Mamdani really think public employees will work the same long, intense hours at city-owned grocery stores that private-sector owners do to earn a living while building their generational wealth? Or that it’s a good idea to shutter natural gas plants supplying 500 megawatts of reliable energy, which New York’s Independent System Operator extended beyond their planned retirement in mid-2025 lest the city suffer blackouts.” (01/14/25)
https://www.foxnews.com/opinion/zohranomics-nyc-mayor-zohran-mamdanis-socialist-math-doesnt-add-up