September 9, 2021
Among many culprits behind this “conservative logic of financialization,” one stands out: the withdrawal of centralized fiscal transfers from higher levels of government. Without access to state and federal funds, cities became dependent on the market to meet even their most basic responsibilities.
More “A Symposium on Destin Jenkins’s The Bonds of Inequality: Debt and the Making of the American City
B. Highsmith, The Bondholders’ Veto: Fiscal Federalism and Local Democracy”