New York’s real estate policies bear a striking resemblance to the “defund the police” movement that spread through progressive cities in the wake of George Floyd’s murder by a police officer. Defunding police and real estate investment both attempt to reduce harm by an absurdly simplistic strategy: shrinking the institution that caused it. The obvious problem is that it also reduces the benefit of the institution. Sort of like amputating fingers to alleviate arthritis. Polling showed “defund” to be unpopular with most Democratic voters, who appreciated the safety provided by law enforcement despite its horrendous abuses, like Minneapolis officer Derek […]

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