num_pages: 416
description: PULITZER PRIZE FINALISTAn epic riveting history of New York City on the edge of disasterand an anatomy of the austerity politics that continue to shape the world todayWhen the news broke in 1975 that New York City was on the brink of fiscal collapse few believed it was possible. How could the countrys 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 Yorkand 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.
language: English
title: Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics
publisher: Metropolitan Books