70’s Crisis
1970s NYC Fiscal Crisis
Produced by Nessy Dahan, Dane St-Cyr, Vimal Bodiwala, and Shuvro Biswas
Macaulay Honors College at Brooklyn College, Class of 2012
The 1970s fiscal crisis was a profound event in the history of New York City. Combined with many long-term causes, financial mismanagement, and the expansion of the welfare state, New York City was on the brink of bankruptcy. Banks stopped lending to the city, and the city’s finances were taken over by the state. As New York City edged closer to bankruptcy, the citizens of our city were gravely affected. There were fewer policemen and firemen to protect them; the option of a free education for their kids at the City University of New York was no longer available; there were fewer jobs available for them. Their streets and roads were in chaos. As the financial crisis of 1975 gripped New York City, its citizens were affected gravely. Our project explores the causes of the fiscal crisis of the 70s, analyzes the effects of the fiscal crisis on the lives of New Yorkers, and evaluates the budgetary consequences and the long-term impact of the fiscal crisis.
The New York City Fiscal and Social Crisis of the 70s Documentary