Publisher Description
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.
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“Narrating this well-documented account of the city’s policy and leadership missteps during that time, Pam Ward captures the intensity and broader importance of how competing ideologies and hostilities played out among the various levels of government. She is equally sensitive to the audiobook’s fascinating characters and the urban governance issues now being debated across the country. Her dramatic delivery is appealing and always in sync with the narrative flow. This important history of one city puts flesh on the broader debates we’re having about the role of government in our society today.”
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