What the author finds ironic about potential incoming minimum wage increases and outcomes of rent control are the unintentional negative effects towards the lower class. Many politicians, and in this case Zohran Mamdani, fail to look at the long term effects of price policies. Many politicians make claims in order to gain votes from normal citizens. For example, an increase in minimum wage and implementing rent control seems to benefit people since it provides more net profit for normal citizens. However, in reality it is quite the opposite. By increasing minimum wage and implementing rent control, employers have a harder time supplying goods and services. They have to pay more to their employees and will not make enough to maintain their apartments. In the long run, this ends up hurting the consumer as well since they are the ones receiving the goods and services. In conclusion, the author finds it ironic that price policies are set in place to help the lower class, but actually hurt them in the long run.
It's interesting that they market this concept in such a way in order to get votes knowing full well that its going to hurt the main people who are voting for it.
It is definitely ironic that they’re trying to help and doing the opposite. It seems like politicians care about getting votes quite a bit…