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.

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