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

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. 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. 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 Kha