<p><b>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</b></p><p>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.</p><p>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, <i>Fear City</i> shows how the brush with bankruptcy permanently transformed New York―and reshaped ideas about government across America.</p><p>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, <i>Fear City</i> is essential reading for anyone seeking to understand the resurgent fiscal conservatism of today.</p>
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.more flag Like see review The solution by Mayor Wagner was to borrow now and repay later, which was the start to the end of an economical collapse of the city financesAuthor NotesLoading Author NotesWho was it? Here's a hint: four decades later, during his campaign for president, he repeatedly said that minorities in cities were "living in hell."Barbara Spindel has covered books for Time Out New York, Newsweek.com, Details, and SpinThis time, Governor Carey pushed through a law allowing the city to pay only interest, not principal, to creditors for one yearAt a White House meeting, an emotional Mayor Beame, pleading with the president for help, argued that European tourists, after all, weren't coming to America to visit Detroit or Columbus; an indignant Ford reminded Beame that he himself was from Michigan, while even the vice president, New Yorker Nelson Rockefeller, quietly warned the mayor not to "get carried away." Beame's point, though clumsily made, resonates in Phillips-Fein's account, as the author also suggests that the country owed something to its preeminent cityThe cities manufacturing base had always been made up of small concerns more and more they started to grow and to move out seeking cheaper land and a non-unionized workforceExtremely well written and impressively researched, Fear City is essential reading to understand how finance capital, real estate speculation, austerity budgeting, and punitive policing first came together to create the toxic politics of today.”Greg Grandin, author of Fordlandia and Kissinger’s Shadow“Fear City provides the definitive account of the moment when New York City liberalism ran out of momentum and money, and the conservative reaction that has culminated in Donald Trump beganUh-oh, it looks like your Internet Explorer is out of dateThe city had to slash services, freezewages, and fire thousands of workers, they insisted, or financial apocalypse would ensuePhillips-Fein organized the material according to the origins of the crisis, the crisis itself, and its legaciesAnd al Even with all the intricate finance and budget talk that was introduced to save the city, the author keeps the narrative movingRequired fields are marked *Comment Name * Email * Website Notify me of follow-up comments by emailAs soon as I read the first two chapters I had to reference back to the history of what was being mentioned which caused my attention to finish the book to deteriorate(Meanwhile, art and music scenes thrived amid the squalor, and one wishes Phillips-Fein had paid more than glancing attention to that milieu.) Underlying these immediate effects was a deeper transformation.May 21, 2017 Jill rated it it was amazing This well researched book looks at the financial crisis in New York CityPurchases made through this Amazon link help support this siteMuch of the emergency that defined New York's mid-1970s character revolved around debt, accounting practices, and municipal bonds, but in Phillips-Fein's hands it is not only exciting but extremely relevant, tooDianne Hurley rated it it was amazing Jun 10, 2017 I do recommend this book to those who have a strong bonding with history and political viewsSobering, smart reading with many pointed lessons for activists.”Kirkus Reviews (starred review) Kirkus Reviews 2017-02-07New York may be an amusement park for the very rich these days, but as this grimly detailed historical account reveals, there was a time…."Ford to City: Drop Dead." The New York Daily News headline of OctAvailability LocationCall NumberItem TypeVolumeBarcodeStatus Bayside330.9747 PAdult Hard Cover0228591024705In Transit Broadway330.9747 PAdult Hard Cover0228591024713Due 6-29-2017 Central Library (Jamaica)330.9747 PAdult Hard Cover0228590700347Available Central Library (Jamaica)330.9747 PAdult Hard Cover0228591024655Available Court Square330.9747 PAdult Hard Cover0228591024754Due 7-18-2017 Douglaston330.9747 PAdult Hard Cover0228467112246Due 7-17-2017 East Flushing330.9747 PAdult Hard Cover0228591024739In Transit Requested Elmhurst330.9747 PAdult Hard Cover0228596627239Due 7-8-2017 Flushing330.9747 PAdult Hard Cover0228591024721Due 7-17-2017 Forest Hills330.9747 PAdult Hard Cover0228591024663Due 7-6-2017 Fresh Meadows330.9747 PAdult Hard Cover0228591024671Available Jackson Heights330.9747 PAdult Hard Cover0228591024689Due 7-14-2017 Maspeth330.9747 PAdult Hard Cover0228591024762Available Rego Park330.9747 PAdult Hard Cover0228591024697Due 7-12-2017 Seaside330.9747 PAdult Hard Cover0228591024747Due 7-1-2017 Steinway330.9747 PAdult Hard Cover0228591024770Due 6-30-2017 Sunnyside330.9747 PAdult Hard Cover0228591024788Due 7-11-2017 Marc Record Show MARC Hide MARC 05036nam a22004338i 4500001 vtls002082583003 NJQ005 20170317150500.0008 170316s2017 nyu b 001 0 eng 010 $a 2016-033559020 $a 9780805095258 $q (hardback) $c $32.00020 $a 9780805095258 $q (hardback)039 9 $a 201703171505 $b jkim $y 201703160916 $z kfinley $w ingramJR201703151308040.dat $x 110040 $a DLC $b eng $e rda $c DLC042 $a pcc043 $a n-us-ny050 $a HB3722 $b .P497 2017082 $a 330.9747/1043 $2 23099 $a 330.9747 P100 1 $a Phillips-Fein, Kim, $e author.245 1 $a Fear city : $b New York's fiscal crisis and the rise of austerity politics / $c Kimberly Phillips-Fein.250 $a First Edition.263 $a 1703264 1 $a New York : $b Metropolitan Books, $c 2017.300 $a pages cm336 $a text $b txt $2 rdacontent337 $a unmediated $b n $2 rdamedia338 $a volume $b nc $2 rdacarrier504 $a Includes bibliographical references and index.520 $a " An epic and riveting history of New York City on the edge of disaster–and an anatomy of the politics of austerity that continues 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 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 redNote: Books noticed on The New York History Blog have been provided by their publishersMaybe, but this explanation feels facile, given the magnitude of the citys problemsThe volume is a careful account of a financial event. 171bf2437f
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