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Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics, by Kim Phillips-Fein
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An epic, riveting history of New York City on the edge of disaster―and an anatomy of the austerity politics that continue to shape the world today
When the news broke in 1975 that New York City was on the brink of fiscal collapse, few believed it was possible. How could the country’s largest metropolis fail? How could the capital of the financial world go bankrupt? Yet the city was indeed billions of dollars in the red, with no way to pay back its debts. Bankers and politicians alike seized upon the situation as evidence that social liberalism, which New York famously exemplified, was unworkable. The city had to slash services, freeze wages, and fire thousands of workers, they insisted, or financial apocalypse would ensue.
In this vivid account, historian Kim Phillips-Fein tells the remarkable story of the crisis that engulfed the city. With unions and ordinary citizens refusing to accept retrenchment, the budget crunch became a struggle over the soul of New York, pitting fundamentally opposing visions of the city against each other. Drawing on never-before-used archival sources and interviews with key players in the crisis, Fear City shows how the brush with bankruptcy permanently transformed New York―and reshaped ideas about government across America.
At once a sweeping history of some of the most tumultuous times in New York's past, a gripping narrative of last-minute machinations and backroom deals, and an origin story of the politics of austerity, Fear City is essential reading for anyone seeking to understand the resurgent fiscal conservatism of today.
- Sales Rank: #14633 in Books
- Brand: METROPOLITAN
- Published on: 2017-04-18
- Released on: 2017-04-18
- Original language: English
- Number of items: 1
- Dimensions: 9.59" h x 1.33" w x 6.49" l, 1.00 pounds
- Binding: Hardcover
- 416 pages
- METROPOLITAN
Most helpful customer reviews
0 of 0 people found the following review helpful.
Crisis Worth Examining
By Jill Bemis
This well researched book looks at the financial crisis in New York City. Phillips-Fein organized the material according to the origins of the crisis, the crisis itself, and its legacies. He exposes the flaws created by the public sector and the inability of the citizen to change policies that affect their daily lives. She does not presume to have all the answers, but she did a fine job defining and highlighting the problems. Philips-Fein is a historian and teaches at the Gallatin School of Individualized Studies at New York University.
I was randomly chosen through a Goodreads Giveaway to receive this book free from the publisher. Although encouraged, I was under no obligation to write a review. The opinions I have expressed are my own.
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