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June 30, 2025
Mamdani, a 33-year-old democratic socialist, ran on a platform of $30 minimum wage, state-run groceries, and taxing billionaires. “I don’t think we should have billionaires,” Mamdani told NBC News’ “Meet the Press” on June 29th. Ian unpacks why that kind of economic populism is gaining steam.“
Socialists can’t beat capitalists,” Ian says, “but they can beat kleptocrats.” He warns that both right- and left-wing populism are being fueled by a growing sense that the American system is rigged. As AI begins threatening white-collar jobs, that discontent could spread to entirely new demographics, creating real risk for political and business elites.
“This isn't a mainstream position,” Ian notes. “But it's a hell of a lane for economic populists.”
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