The Housing Crisis
Soaring housing costs are driving young people towards socialism—only dispersed development and expanded property ownership can preserve liberal democracy.
Amid the growing cost of living crisis, Marxist firebrand Zohran Mamdani has been elected to the position of Mayor of New York. Mamdani’s popularity, which is based largely on unease about prices, most notably rents, augurs a possible American turn towards radical collectivism.
Mamdani’s brand of leftist politics is not socialism as practised, for example, in Sweden, which never nationalised its main industries, embraced home ownership and whose welfare state was financed by a dynamic export-oriented economy. The founder of the Democratic Socialists of America (DSA), the late Michael Harrington, would barely recognise his offspring. He warned against Leninist control of the “commanding heights” of the economy, detested communism and its Third World offshoots, and supported Israel’s right to exist. The current DSA and its supporters, as writer Pamela Paul points out, believe that “capitalism isn’t something to be regulated or balanced, but is itself the problem.”
Economic Dynamism
The Price of Stagnation: Britain’s Retreat from Dynamism
We face a basic issue: we do not let cities or communities grow or die.
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London and the Architecture of Creative Growth
Preserving London's creative dynamism will require humility from policymakers and a commitment to keeping the city liveable.
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The New Frontier of Capital: What SpaceX’s IPO Tells Us About American Capital Markets
The ultimate trajectory of SpaceX remains uncertain, a reflection of the inherent nature of progress at the frontier rather than a flaw in the system that produced it.
Chicago’s “Disappearing Middle Class” Can Be Found in Its Proliferating Upper Middle-Class Neighborhoods
The middle class has not been hollowed out; rather, the overall decline stems from the net movement of families upward into the upper-middle class.
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Is Economics a Failure?
Rather than ending with “economics is broken,” Alexander Rosenberg’s deliberately provocative book 'Blunt Instrument' argues that “economics is useful for a different reason than economists often say.” That is a serious and worthwhile thesis.
Locke, Meet Claude
The concern is not regulation per se. It is a regulation that outruns its justification by arriving before the evidence, foreclosing the technology before its benefits are understood, and insulating the powerful from competition that would otherwise discipline them. That is the pattern worth resisting.
