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Author: Kim Phillips-Fein
Publisher: Macmillan + ORM
ISBN: 0805095268
Category : History
Languages : en
Pages : 302
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Book Description
PULITZER PRIZE FINALIST 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.
Author: Kim Phillips-Fein
Publisher: Macmillan + ORM
ISBN: 0805095268
Category : History
Languages : en
Pages : 302
Get Book Here
Book Description
PULITZER PRIZE FINALIST 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.
Author: Joshua B. Freeman
Publisher: The New Press
ISBN: 1620977087
Category : Business & Economics
Languages : en
Pages : 436
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Book Description
A “lucid, detailed, and imaginative analysis” (The Nation) of the model city that working-class New Yorkers created after World War II—and its tragic demise More than any other city in America, New York in the years after the Second World War carved out an idealistic and equitable path to the future. Largely through the efforts of its working class and the dynamic labor movement it built, New York City became the envied model of liberal America and the scourge of conservatives everywhere: cheap and easy-to-use mass transit, work in small businesses and factories that had good wages and benefits, affordable public housing, and healthcare for all. Working-Class New York is an “engrossing” (Dissent) account of the birth of that ideal and the way it came crashing down. In what Publishers Weekly calls “absorbing and beautifully detailed history,” historian Joshua Freeman shows how the anticommunist purges of the 1950s decimated the ranks of the labor movement and demoralized its idealists, and how the fiscal crisis of the mid-1970s dealt another crushing blow to liberal ideals as the city’s wealthy elite made a frenzied grab for power. A grand work of cultural and social history, Working-Class New York is a moving chronicle of a dream that died but may yet rise again.
Author: Kim Phillips-Fein
Publisher: Metropolitan Books
ISBN: 080509525X
Category : Business & Economics
Languages : en
Pages : 417
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Book Description
"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 capital of the financial world go bankrupt? And yet the city was billions of dollars (maybe twelve, maybe fourteen, no one even really knew how much) in the red. Bankers and politicians alike seized upon the situation as evidence that social liberalism, which New York famously exemplified, was doomed to failure; and promised apocalyptic scenarios if the city didn't fire thousands of workers, freeze wages, and slash social services. [The author] tells the remarkable story of the crisis that engulfed the city, forever transforming the largest metropolis in the United States and reshaping ideas about government throughout the country. In doing so, she brings to life a radically different New York, the legendarily decrepit city of the 1970s. Drawing on never-before-used archival sources as well as interviews with key players in the crisis, Phillips-Fein guides us through the hairpin turns and sudden reversals that brought New York City to the edge of bankruptcy, and kept it from going over."--
Author: Jonathan Soffer
Publisher: Columbia University Press
ISBN: 0231520905
Category : History
Languages : en
Pages : 525
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Book Description
In 1978, Ed Koch assumed control of a city plagued by filth, crime, bankruptcy, and racial tensions. By the end of his mayoral run in 1989 and despite the Wall Street crash of 1987, his administration had begun rebuilding neighborhoods and infrastructure. Unlike many American cities, Koch's New York was growing, not shrinking. Gentrification brought new businesses to neglected corners and converted low-end rental housing to coops and condos. Nevertheless, not all the changes were positive AIDS, crime, homelessness, and violent racial conflict increased, marking a time of great, if somewhat uneven, transition. For better or worse, Koch's efforts convinced many New Yorkers to embrace a new political order subsidizing business, particularly finance, insurance, and real estate, and privatizing public space. Each phase of the city's recovery required a difficult choice between moneyed interests and social services, forcing Koch to be both a moderate and a pragmatist as he tried to mitigate growing economic inequality. Throughout, Koch's rough rhetoric (attacking his opponents as "crazy," "wackos," and "radicals") prompted charges of being racially divisive. The first book to recast Koch's legacy through personal and mayoral papers, authorized interviews, and oral histories, this volume plots a history of New York City through two rarely studied yet crucial decades: the bankruptcy of the 1970s and the recovery and crash of the 1980s.
Author: Richard Ravitch
Publisher: PublicAffairs
ISBN: 161039092X
Category : Biography & Autobiography
Languages : en
Pages : 281
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Book Description
Every city and every state needs a Richard Ravitch. In sixty years on the job, whether working in business or government, he was the man willing to tackle some of the most complex challenges facing New York. Trained as a lawyer, he worked briefly for the House of Representatives, then began his career in his family's construction business. He built high-profile projects like the Whitney Museum and Citicorp Center but his primary energy was devoted to building over 40,000 units of affordable housing including the first racially integrated apartment complex in Washington, D.C. He dealt with architects, engineers, lawyers, bureaucrats, politicians, union leaders, construction workers, bankers, and tenants -- virtually all of the people who make cities and states work. It was no surprise that those endeavors ultimately led to a life of public service. In 1975, Ravitch was asked by then New York Governor Hugh Carey to arrange a rescue of the New York State Urban Development Corporation, a public entity that had issued bonds to finance over 30,000 affordable housing units but was on the verge of bankruptcy. That same year, Ravitch was at Carey's side when New York City's biggest banks said they would no longer underwrite its debt and he became instrumental to averting the city's bankruptcy. Throughout his career, Ravitch divided his time between public service and private enterprise. He was chairman of the Metropolitan Transportation Authority from 1979 to 1983 and is generally credited with rebuilding the system. He turned around the Bowery Savings Bank, chaired a commission that rewrote the Charter of the City of New York, served on two Presidential Commissions, and became chief labor negotiator for Major League Baseball. Then, in 2008, after Governor Eliot Spitzer resigned in a prostitution scandal and New York State was in a post-financial-crisis meltdown, Spitzer's successor, David Paterson, appointed Ravitch Lieutenant Governor and asked him to make recommendations regarding the state's budgeting plan. What Ravitch found was the result of not just the economic downturn but years of fiscal denial. And the closer he looked, the clearer it became that the same thing was happening in most states. Budgetary pressures from Medicaid, pension promises to public employees, and deceptive budgeting and borrowing practices are crippling our states' ability to do what only they can do -- invest in the physical and human infrastructure the country needs to thrive. Making this case is Ravitch's current public endeavor and it deserves immediate attention from both public officials and private citizens.
Author: Adam Tooze
Publisher: Penguin
ISBN: 0525558802
Category : Business & Economics
Languages : en
Pages : 720
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Book Description
WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.
Author: Martin Shefter
Publisher: Columbia University Press
ISBN: 9780231079433
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
This study examines the factors that caused New York City's financial crisis in 1975 and demonstrates how these manifestations of newly evolved political alliances and systems continue to undermine the city's financial stability. It shows how these problems, which are enduring features of the city's political system, are not unique to New York but a threat to the financial stability of most major American cities. The volume won the American Political Science Association's Award for the Best Book on Urban Policy.
Author: William K. Tabb
Publisher: NYU Press
ISBN: 0853455724
Category : Political Science
Languages : en
Pages : 163
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Book Description
Classic study of the fiscal crisis that gripped New York City — and much of urban America — in the 1970s.
Author: Hillary Miller
Publisher: Northwestern University Press
ISBN: 0810133903
Category : Performing Arts
Languages : en
Pages : 447
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Book Description
Winner, 2017 American Theater and Drama Society John W. Frick Book Award Winner, 2017 ASTR Barnard Hewitt Award for Outstanding Research in Theater History Hillary Miller’s Drop Dead: Performance in Crisis, 1970s New York offers a fascinating and comprehensive exploration of how the city’s financial crisis shaped theater and performance practices in this turbulent decade and beyond. New York City’s performing arts community suffered greatly from a severe reduction in grants in the mid-1970s. A scholar and playwright, Miller skillfully synthesizes economics, urban planning, tourism, and immigration to create a map of the interconnected urban landscape and to contextualize the struggle for resources. She reviews how numerous theater professionals, including Ellen Stewart of La MaMa E.T.C. and Julie Bovasso, Vinnette Carroll, and Joseph Papp of The Public Theater, developed innovative responses to survive the crisis. Combining theater history and close readings of productions, each of Miller’s chapters is a case study focusing on a company, a production, or an element of New York’s theater infrastructure. Her expansive survey visits Broadway, Off-, Off-Off-, Coney Island, the Brooklyn Academy of Music, community theater, and other locations to bring into focus the large-scale changes wrought by the financial realignments of the day. Nuanced, multifaceted, and engaging, Miller’s lively account of the financial crisis and resulting transformation of the performing arts community offers an essential chronicle of the decade and demonstrates its importance in understanding our present moment.
Author: Ralph Schlosstein
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 80
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Book Description
