Following the June 2026 primary elections in NYC, in which democratic socialist Mayor Mamdani’s preferred slate enjoyed considerable electoral success, much has been written about the political implications. Our take is really simple. The last time the democratic socialists gained power, especially in major US cities, many of their policies were adopted by Progressives or New Dealers. In either case, that meant a far more intrusive regulatory environment for utilities. The Progressives laid the foundation for our existing regulatory apparatus…
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