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The NYC Fiscal Crisis of the 1970s Has Some Important Lessons for Today

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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance and economics.

In the 1970s, NYC teetered on the verge of bankruptcy. This crisis lead to the dismantling of the city's generous social safety net. On this week's Odd Lots podcast, we speak to Kim Phillips-Fein, historian and author of "Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics." She walks us through what happened then, and what lessons it holds for fiscal politics today.


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