Krugman Says There's No Need to Panic If Mamdani Becomes NYC Mayor

Economic Policy & Political Landscape - The mayoral race in New York City features a self-proclaimed Democratic socialist, Mr Mamdani, whose policies are being debated [1] - The speaker characterizes Mamdani's policies as more akin to European Social Democrats, not extreme socialism [1] - Concerns about radical economic change in New York City due to Mamdani's candidacy are likely unwarranted [2][4] Housing & Rent Control - Freezing rents is generally not considered an effective way to increase housing stock [3] - Mamdani's rent control proposals focus on stabilizing existing rent-controlled properties, a policy at the margin [3] - The policy is unlikely to significantly impact housing construction, and Mamdani intends to promote housing development [4]