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The Problems with a Socialist Vision for NYC
Yale’s Jeffrey Sonnenfeld and co-authors suggest that some of New York City mayoral candidate Zohram Mamdani’s socialism-inspired proposals, such as city-owned grocery stores, are likely to run into inefficiencies and unanticipated downsides. They write that capitalism can be a better engine of...
Yale’s Jeffrey Sonnenfeld and co-authors suggest that some of New York City mayoral candidate Zohram Mamdani’s socialism-inspired proposals, such as city-owned grocery stores, are likely to run into inefficiencies and unanticipated downsides. They write that capitalism can be a better engine of progress.
Vital City | Zohran Mamdani’s Real-World Constraints
He has big plans — but the mayor’s power has clear limits.
The mayor of the City of New York is the most powerful municipal official in the United States, and it isn’t even close. But to say this isn’t to say that the next mayor, likely Zohran Mamdani, will have the ability to unilaterally do some of the things he’s been promising on the campaign. There are very real structural, budgetary and legal limits on what the city’s chief executive can accomplish without the cooperation and support of other branches of city or state government.
These articles outline some of the challenges Zohran's policies will likely encounter (both logistically, and structurally)
Larry Summers (whose Economics chops and Democratic bona fides should speak for themselves)
- MIT & Harvard education (and was a travelling professor who ended up teaching at both Harvard and at economics departments in England, and was even president of Harvard for a few years)
- Served on the Economics Advisors council for Reagan (he's worked with people from both parties)
- Chief Economist for World Bank
- Under-secretary of the treasury for international affairs under Clinton
- 71st Secretary of the treasury
- Director of the National economic council under Obama
...sufficed to say, has a little bit of knowledge on the subject of economics having held positions for both teams, as well as having both academic and real-world high-level leadership positions in the field.
...had this to say