Fear city

"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 red. Bankers and politicians alike seized upon the situation as evidence that social liberalism, which New York famously exemplified, was doomed to…