Opinion

649 years ago, a prominent Muslim scholar warned us about Mayor Mamdani's ideas

Mayor Zohran Mamdani wants the first city-owned store open in the Bronx by 2027 with subsidized prices on staples

By Chuck DeVore Fox News

Published August 30, 2026 6:00am EDT

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New York's business climate faces pressure under Mamdani tax proposals

NYC Mayor Zohran Mamdani's business advisor Robert Wolf discusses the environment in New York City as Mamdani proposes a tax-the-wealthy plan. Wolf analyzes the impact of tax hikes on high-value real estate.

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Ibn Khaldun warned us about Mayor Zohan Mamdani’s ideas. I first encountered Ibn Khaldun while studying Islamic political thought at the American University in Cairo. His 1377 masterwork, the Muqaddimah (The introduction to his universal history), pioneered systematic approaches to historiography, sociology, economics, demography, and the philosophy of history.

Khaldun’s book features a clear description of what became known six centuries later as the Laffer Curve — the economic theory that, as tax rates rise there will be a peak in revenue, beyond which as rates continue to go up, revenue starts to decline as economic activity collapses.

Per Khaldun, early in a dynasty, low taxes encourage enterprise; revenue rises and civilization flourishes. Later, rulers demand more luxury and larger armies. Taxes climb. Businessmen........

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