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Shefter's book is a dispassionate account of the circumstances leading to and consequences resulting from New York City's 1975 fiscal crisis. His primary contention is that fiscal crises "occur with sufficient regularity" to be regarded as an "integral part of American urban politics" rather than exceptional episodes (xxiii). Shefter provides a very broad overview of the types of situations that might lead to these general crises in chapter one. He does so without providing any specific evidence ...more