The city’s fundamental problem is an open hostility to markets and freedom.
From policies such as universal pre-K and mandated paid sick leave to the city’s $15 minimum wage, rent-controlled housing, and oppressive tax climate, New York’s political class has shown a disdain for capitalism, private property, and business concerns, and a troubling affinity for central planning.
You don’t have to take my word for it. Listen to New York City Mayor Bill de Blasio, who
told New York Magazine this in 2017.
“What’s been hardest is the way our legal system is structured to favor private property. I think people all over this city, of every background, would like to have the city government be able to determine which building goes where, how high it will be, who gets to live in it, what the rent will be.
I think there’s a socialistic impulse, which I hear every day, in every kind of community, that they would like things to be planned in accordance to their needs. And I would, too.
Unfortunately, what stands in the way of that is hundreds of years of history that have elevated property rights and wealth to the point that that’s the reality that calls the tune on a lot of development….
Look, if I had my druthers, the city government would determine every single plot of land, how development would proceed. And there would be very stringent requirements around income levels and rents. That’s a world I’d love to see…”
Did you catch that? The mayor of the world’s financial capital believes the primary obstacle to prosperity is
private property. He thinks city officials should get to determine where buildings go and “who gets to live in [them].”
As one observer noted at the time, de Blasio is not the first political leader to thirst for such power.
“Other leaders have had such power, in the Soviet Union and China and Venezuela, and those systems did not produce progress. Or even toilet paper,” David Boaz
wryly observed in
USA Today.
Unfortunately, neither Cuomo nor de Blasio seem aware of this history. Prior to and throughout the COVID-19 pandemic, the pair have embraced the heavy hand of big government instead of free markets. New York’s oppressive climate has yielded a batch of bad fruit—surging violence (
shootings were up 112 percent in November),
injustice, economic depression,
joblessness, and general despair.