Entrepreneur and author Carol Roth joined Chicago’s Morning Answer with Amy Jacobson and Jim Iuorio to react to New York’s recent Democratic primary, where self-proclaimed socialist candidate Zohran Mamdani surged to victory. Roth, whose books You Will Own Nothing and The War on Small Business explore the rise of global centralization and erosion of economic independence, called the election a cautionary tale about the growing influence of ideological extremism—especially among younger voters.
Roth pointed out that Mamdani’s platform includes ideas such as abolishing ICE, defunding police, freezing rent, and offering free child care and public transit, all funded by a nebulous strategy of taxing billionaires. She warned that such promises may sound appealing, but ultimately hurt working-class residents the most. According to Roth, the voters most supportive of Mamdani’s platform were not blue-collar workers, but affluent and university-educated individuals who mistake socialism for moral superiority.
“People say they want change,” Roth noted, “but they don’t clarify that they want better.” Comparing Mamdani’s rise to Chicago’s own struggles under Mayor Brandon Johnson, Roth said that cities continue to elect ideologues with no executive experience, then act surprised when budgets collapse and services suffer.
Roth didn’t hold back when criticizing what she sees as widespread political illiteracy, especially in major cities. She likened modern elections to popularity contests, where voters choose based on style and soundbites rather than qualifications or realistic policy. “If these people were applying to be CEOs of multi-billion-dollar organizations, nobody would hire them,” she said, highlighting the dangers of electing officials with no background in governance or economics.
The conversation also explored why socialism continues to appeal to younger generations. Roth argued it stems from an education system that promotes ideological conformity rather than critical thinking. She joked that America needs a “socialism exchange program” where young idealists could experience life under socialist regimes in places like North Korea to better understand what centralized control really looks like.
Beyond politics, Roth addressed the broader war on small businesses. She argued that government policies—especially those passed during and after COVID—have disproportionately benefited large corporations while making life harder for independent businesses. New regulations like the Corporate Transparency Act, she said, are examples of misguided attempts to catch criminals that end up burdening legitimate entrepreneurs. Meanwhile, powerful financial and corporate interests remain exempt.
Roth described this imbalance as not just incompetence, but part of a deliberate effort to concentrate economic power. Small businesses, she explained, are harder to control and less likely to participate in the kind of backroom lobbying that big corporations use to influence lawmakers. Centralized power, she warned, leads to centralized control—and fewer freedoms for everyday citizens.
The interview ended with a discussion of alternative financial systems. Roth views Bitcoin and gold as symbolic rejections of centralized monetary policy. While she noted that Bitcoin remains volatile and risky, she sees gold emerging as a potential neutral global reserve asset as faith in traditional institutions continues to erode.
As Roth put it, the battle over economics, policy, and political values isn’t just happening at the ballot box—it’s happening at the foundation of how society functions. And unless voters begin valuing competence over charisma, cities like New York and Chicago may continue to struggle with the consequences of their own political choices.