New York City's Fiscal Problems
Author | : United States. General Accounting Office |
Publisher | : |
Total Pages | : 112 |
Release | : 1979 |
Genre | : Budget |
ISBN | : |
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Author | : United States. General Accounting Office |
Publisher | : |
Total Pages | : 112 |
Release | : 1979 |
Genre | : Budget |
ISBN | : |
Author | : Kim Phillips-Fein |
Publisher | : Macmillan + ORM |
Total Pages | : 302 |
Release | : 2017-04-18 |
Genre | : History |
ISBN | : 0805095268 |
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 | : Roger Dunstan |
Publisher | : |
Total Pages | : 22 |
Release | : 1995-03 |
Genre | : Debts, Public |
ISBN | : 9781587030338 |
Author | : Robert Danton Reischauer |
Publisher | : |
Total Pages | : 52 |
Release | : 1975 |
Genre | : Finance, Public |
ISBN | : |
Author | : Joshua B. Freeman |
Publisher | : The New Press |
Total Pages | : 436 |
Release | : 2021-04-20 |
Genre | : Business & Economics |
ISBN | : 1620977087 |
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 | : United States. Congressional Budget Office |
Publisher | : |
Total Pages | : 46 |
Release | : 1975 |
Genre | : Finance, Public |
ISBN | : |
Author | : Martin Shefter |
Publisher | : Columbia University Press |
Total Pages | : 304 |
Release | : 1992 |
Genre | : Business & Economics |
ISBN | : 9780231079433 |
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 | : Seymour P. Lachman |
Publisher | : State University of New York Press |
Total Pages | : 250 |
Release | : 2010-07-01 |
Genre | : Political Science |
ISBN | : 1438434545 |
Winner of the 2011 Empire State History Book Award presented by New York State Archives Partnership Trust The Man Who Saved New York offers a portrait of one of New York's most remarkable governors, Hugh L. Carey, with emphasis on his leadership during the fiscal crisis of 1975. In this dramatic and colorful account, Seymour P. Lachman and Robert Polner's examine Carey's youth, military service, and public career against the backdrop of a changing, challenged, and recession-battered city, state, and nation. It was Carey's leadership, Lachman and Polner argue, that helped rescue the city and state from the brink of financial and social ruin. While TV comedians mocked and tabloids shrieked about the Big Apple's rising muggings, its deteriorating public services, and the threats and walkouts by embattled police, firefighters, and teachers, all amid a brutal recession, Carey and his team managed to hold on and ultimately prevailed, narrowly preventing a huge disruption to the state, national, and global economy. At one point, the city came within a few hours of having to declare itself incapable of paying its debts and obligations, but in the end stability and consensus prevailed, and America's largest city stayed out of bankruptcy court. The center held. Based on extensive interviews with Carey and his family, as well as numerous friends, observers, and former advisors, including Steven Berger, David Burke, John Dyson, Peter Goldmark, Judah Gribetz, Richard Ravitch, and Felix Rohatyn, The Man Who Saved New York aims to place Carey and his achievements at the center of the financial maelstrom that met his arrival in Albany. While others were willing to let the city go into default, Carey was strongly opposed, since it would not only affect the state as a whole but would have reverberations both nationally and internationally. In recounting the 1975 rescue of New York City and the aftershocks that nearly sank the state government, Lachman and Polner illuminate the often-volatile interplay among elite New York bankers, hard-nosed municipal union leaders, the press, and influential conservatives and liberals from City Hall to the Albany statehouse to the White House. Although often underappreciated by the public, it was Carey's force of will, wit, intellect, judgment, and experiences that allowed the state to survive this unparalleled ordeal and ultimately to emerge on a stronger footing. Further, Lachman and Polner argue, Carey's accomplishment is worth recalling as a prime example of how governments—local, state, and federal—can work to avoid the renewed the threat of bankruptcy that now confronts many overstretched states and localities.
Author | : William K. Tabb |
Publisher | : NYU Press |
Total Pages | : 163 |
Release | : 1982 |
Genre | : Political Science |
ISBN | : 0853455724 |
Classic study of the fiscal crisis that gripped New York City — and much of urban America — in the 1970s.
Author | : New York Chamber of Commerce |
Publisher | : |
Total Pages | : |
Release | : 1958 |
Genre | : |
ISBN | : |