Critics of Capitalism Misunderstand Economic Success

A few weeks ago, during a group conversation in a friendly setting, one of the participants said he admired another for his “great professional [economic] success.” It wasn’t flattery or superficial. It was a sober and sincere expression—or at least that’s how I perceived it. Yet the reaction from the others was disconcerting: an awkward pause, followed by nervous, mocking laughter.

Will New York City Become the New Socialist Paradise?

The stunning victory by self-described socialist Zohran Mamdani over former New York Governor Andrew Cuomo in the Democratic primary for New York City mayor tells us that while socialism may be a failure in the real world, it is doing well in American electoral politics. Because New York is heavily Democratic, it is highly unlikely that Mamdani will lose to Eric Adams, even if Adams is the incumbent (and an unpopular incumbent at that).