A Half-Century after New York City’s Fiscal Collapse, the City’s Politicians Have Learned Nothing

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A Half-Century after New York City’s Fiscal Collapse, the City’s Politicians Have Learned Nothing

mises.org/mises-wire/half-century-after-new-york-citys-fiscal-collapse-citys-politicians-have-learned-nothing

Voters in last week‘s Democratic Primary in New York City had to choose between a socialist and a crony capitalist. They chose the socialist. Fifty years ago, Establishment politicians drove the city into de facto bankruptcy. A new generation of political elites are doing the same.

This story appeared on mises.org, 2025-07-03 10:09:45.727000.