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Economist Peter Schiff, on Thursday, expressed concerns about New York City Mayor Zohran Mamdani’s plan to open government-owned stores to make food more affordable.
New York’s State-Run Grocers Will Hurt Private Sector Profit
In a post on X, Schiff said that the opening of five state-run grocery would hurt private-sector profit and reduce the efficiency of the stores. He wrote “profit margins are less than 2%. Without a profit motive government stores will be far less efficient, so without taxpayer subsidies, prices will be higher.”
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