The Perfect Storm and the Turning Point

  • Aaron Gurwitz
Part of the Palgrave Studies in American Economic History book series (AEH)


A combination of macroeconomic, industrial, and political circumstances—a perfect storm—brought New York City to brink of bankruptcy in October 1975. The years after 1975 marked the nadir of the City’s postwar economic contraction. The subsequent recovery began almost imperceptably, but it did begin.


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Aaron Gurwitz
    • 1
  1. 1.New YorkUSA

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