The severe financial austerity imposed on New York City during the 1975 fiscal crisis resulted in a city falling apart. Broken windows, crumbling walls, and piles of bricks were everywhere. While, for many, this physical decay was a sign that the postwar welfare state had failed…
"During the 1975 fiscal crisis in New York, lots of things fell apart. Broken windows, crumbling walls, piles of bricks, and exposed wiring were everywhere. For everyone involved, these served as visual reminders of the shocks to the city's system rendered by the crisis. For som…