A troubling reality unfolding across the United States today is the growing disillusionment of a large segment of the people, mostly young, who are politically and economically upset with the current status quo. Their concerns are justified to a large extent, as the so-called American dream, a promise of upward mobility through hard work, has already slipped away beyond their reach. What once was taken for granted – a stable job, home ownership, and financial security-now feels unattainable to millions, creating a certain uncertainty about the nation’s future. As inequality widens, political polarizations intensify, creating populist movements on the left and right filled with emotions of anger and cynicism. This situation poses a potential threat to the very fabric of our society, raising the question: are we on the verge of a popular uprising that threatens the very foundations of social cohesion and democratic stability?
The primary election victory of Zohran Mamdani as the Democratic candidate is a clear sign that the political pendulum in America is shifting. His campaign, anchored in progressive policies such as rent freezes, free public transit, and higher taxes on the wealthy, has struck a powerful chord with younger voters weary of economic hardship and inequality. Yet, this shift raises profound questions about the nation’s direction. Will these radical, left-wing reforms offer meaningful relief to a generation burdened by debt, stagnant wages, and unaffordable housing? Or will they usher in a social and economic transformation so sweeping that it could alter the very character of American society—perhaps beyond the point of return?
If history is any guide, socialist revolutions have consistently failed to deliver on their promises. The collapse of the Berlin Wall remains one of the clearest testaments to that truth. When the wall finally fell, the world watched as East Germans fled not toward the socialist East but toward the freedom and prosperity of the capitalist West. Despite being surrounded by barriers, West Berliners enjoyed a standard of living, political freedom, and economic vitality unmatched anywhere across the Eastern Bloc. Time and again, socialist systems have produced not equality and abundance but shortages, stagnation, and widespread hardship.
I had the rare opportunity to live in Communist Ethiopia during the rule of Mengistu Haile-Mariam, a dictator who held power through much of the early 1980s. Those years offered me a firsthand glimpse into the grim realities of life under a repressive regime. Beyond the absence of freedom of expression, the country suffered from severe shortages of essential goods, inadequate housing, and a collapsing healthcare system. Fear and silence gripped the population, while the privileged few in power thrived. Eventually, the people’s patience ran out, and the regime was swept away by a popular uprising. It is a stark reminder that no system built on oppression and deprivation can endure indefinitely.
Right in our own backyard, Cuba and Venezuela stand as glaring examples of failed socialist experiments. Cuba remains trapped in the economics and ideology of the last century, its people burdened by stagnation and scarcity. Venezuela, once among the most affluent nations in Latin America and blessed with vast natural resources, has been reduced to chaos under socialist rule. What was once a prosperous society is now marked by poverty, hyperinflation, and mass migration, with millions fleeing their homeland in search of freedom and opportunity.
Some may argue that China, as a communist nation, has thrived under socialism. However, the truth is quite the opposite for those who look deeper. China began its remarkable transformation only after it loosened its centralized socialist controls and opened the door to private enterprise and market-driven reforms. Its leaders recognized the power of innovation and entrepreneurship while eagerly adopting Western ideas, technologies, and management practices. In essence, China’s success story is not the triumph of communism, but the outcome of its partial retreat from it.
However, capitalism became the driving force of the modern era, unleashing the power of individual liberty and human creativity. Capitalism paved the way for unprecedented scientific and technological progress by rewarding innovation and enterprise. It built the foundations of a prosperous society that lifted millions out of poverty and expanded opportunities for generations. In its best form, capitalism has proven that freedom and productivity can advance hand in hand, inspiring a hopeful vision for the future.
In the United States, capitalism does not operate unchecked. It functions within a framework of laws and regulations designed to ensure fairness and accountability. The government plays a crucial role in this, with oversight bodies and the judiciary curbing exploitation and corporate excesses. Robust anti-monopoly laws exist to prevent consumer fraud, price gouging, and the concentration of economic power in too few hands, preserving competition as the lifeblood of a healthy economy. This regulated form of capitalism, with the government as a watchdog, is a key factor in its success and the prosperity it has brought to the nation.
India too experienced an economic revival when the landmark reforms led by Dr. Manmohan Singh were introduced in the early 1990s. By dismantling the rigid controls of the license-raj system and opening the country to global trade and investment, these reforms unleashed the power of the market economy. The results were transformative while propelling India onto a path of sustained growth and helping it emerge as the world’s fourth-largest economy today.
However, for a market economy to succeed, it requires more than policies and regulations. It demands a dedicated and disciplined workforce. Hard work, integrity, and perseverance remain its most essential ingredients. The early immigrants to America are a testament to this truth. They had no Medicare, Food stamps, or Government Safety Nets. Yet, they toiled in the fields and factories, built families, and laid the foundation of a thriving society where effort was rewarded and success celebrated.
The recent generations of immigrants are the actual beneficiaries of that legacy of hard work and perseverance. America became a magnet for talent and ambition and a beacon of freedom and prosperity, a shining city on a hill that drew millions from across the world, from every culture, language, and faith. Such massive movements occur only toward nations that uphold liberty and reward merit. These immigrants joined vibrant, market-driven economies and thrived and many becoming trailblazers in their own right, creating immense wealth, generating opportunities for others, and leading multinational companies that have guided society into a new era of innovation and sustained growth. Their success stories are a testament to the opportunities that a capitalist system can provide, and the social mobility it can enable.
Capitalism and the market economy are not without their flaws. They move in cycles of expansion and recession, and in times of crisis such as the COVID-19 pandemic, the wheels of the economy can come to a grinding halt. Reckless spending by undisciplined politicians can fuel runaway inflation, while excessive regulation can stifle innovation and prevent industries from realizing their full potential. Similarly, a shortage of skilled workers can dampen productivity and slow growth. Yet, these challenges are not insurmountable — they demand dynamic leadership, sound policymaking, and the courage to innovate and adapt to changing realities.
However, the sad reality is that many of today’s immigrants appear intent on challenging or undoing the very experiment that made the United States a beacon of opportunity. One is left to wonder why anyone would come to a country only to disparage the system that built the most powerful economy in history. Unlike the immigrants of earlier generations who valued self-reliance, hard work, and personal responsibility, some now advocate for a culture of dependence, believing that wealth redistribution can solve all social ills. They overlook a fundamental truth: in every system, it is the innovators, the risk-takers, and the diligent workers who drive progress and ultimately reap the rewards of their labor.
New Yorkers face a crucial test in the coming elections. The city already carries roughly $300 billion in debt, and new taxes will disproportionately hurt the middle class. The very wealthy have options to relocate. The city budget has ballooned to some $112 billion, with excessive and wasteful spending in many corners. We should ask ourselves: do we want leaders with primary goal is to redistribute the wealth and who speak openly about “de-commodifying” housing—a euphemism, some fear, for eroding private property rights or even about “seizing the means of production”, a term Karl Marx used to describe the capital or wealth of those he painted as villains? Do we really want to upend the very system that built New York, entrusting it to those who had no stake in building it?
History has shown that no nation can thrive by undermining the very principles that built its success. Although imperfect, capitalism has proven to be the most effective engine for innovation, progress, and human advancement, provided it is guided by integrity, discipline, and a sense of shared responsibility. The challenges America faces today, from debt and division to disillusionment, call for leadership rooted in vision, prudence, and respect for the hard-won values that shaped this great nation. Let us remember that freedom and prosperity are not entitlements, but trusts handed down by generations who toiled and sacrificed. Preserving them requires courage, wisdom, and faith in the enduring promise of the American spirit.
