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More Austerity Coming? Lessons From New York City's 1970s Fiscal Crisis, Marc Kagan

Publications and Research

Crises can be moments of opportunity, but it is not foreordained who will seize the ring. The Great Depression ultimately led to the New Deal/Great Society state and increasing equality. 1975 New York City fiscal crisis, on the other hand, laid the groundwork for decades of neoliberal austerity. Despite political vulnerabilities, bankers and their Washington allies acted boldly to protect imperiled assets and remake a city in which the working class wielded some power as a bastion of finance capital. Seemingly powerful unions abandoned the public they served, and followed a risk-averse strategy of concessions in exchange for junior-partner corporatism, …

For Tony Feliciano, A Friend And A Union Man, Marc Kagan

Publications and Research

My friend Tony Feliciano, transit worker 1984-2020, and a union man all his life, died a few weeks ago; he had just turned 61. While transit workers were dying this spring, he actually made it out of the 207th St. Overhaul Shop, where he worked virtually his whole career, in May; he put in his papers and retired to his house in Rockland County.

But he died of a heart attack, before he could even collect his first pension check.