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Editor's choice Pushing austerity: state failure, municipal bankruptcy and the crises of fiscal federalism in the USA

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  • Jamie Peck

Abstract

By way of a critical exploration of austerity politics in the USA, the paper examines the means by which the Wall Street crisis of 2008 has been translated into a state crisis, especially for the state at the subnational and urban scales. It examines the strategies, rationales and tactics adopted by advocates of austerity measures, which amount to a sustained effort to socialize, rescale and ‘dump’ the costs of the economic crisis. These manoeuvres are transforming the operating environment for state and local government in the USA, and they are remaking the terrains of urban politics at the same time.

Suggested Citation

  • Jamie Peck, 2014. "Editor's choice Pushing austerity: state failure, municipal bankruptcy and the crises of fiscal federalism in the USA," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 7(1), pages 17-44.
    • Handle: RePEc:oup:cjrecs:v:7:y:2014:i:1:p:17-44.
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    File URL: http://hdl.handle.net/10.1093/cjres/rst018
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    Cited by:

    1. Simon Dudek & Hans-Martin Zademach, 2023. "Territorial development in Bavaria between spatial justice and austere federalism: A historical-materialist policy analysis of Bavarian regional development politics and policies, 2008–2018," Environment and Planning A, , vol. 55(4), pages 890-904, June.
    2. Mark Davidson, 2020. "Extreme municipal fiscal stress and austerity? A case study of fiscal reform after Chapter 9 bankruptcy," Environment and Planning C, , vol. 38(3), pages 522-538, May.
    3. Krzysztof Kluza, 2015. "Debt Repayment Capacity Of Local Government Sector In Poland During The 2008-2013 Economic Slowdown Period," Accounting & Taxation, The Institute for Business and Finance Research, vol. 7(2), pages 17-27.
    4. Edward Yates & Ian Clark & William Rossiter, 2021. "Local economic governance strategies in the UK’s post-industrial cities and the challenges of improving local work and employment conditions," Local Economy, London South Bank University, vol. 36(2), pages 115-132, March.
    5. Yuanshuo Xu & Mildred E Warner, 2016. "Does devolution crowd out development? A spatial analysis of US local government fiscal effort," Environment and Planning A, , vol. 48(5), pages 871-890, May.
    6. Christopher Niedt & Brett Christophers, 2016. "Value at Risk in the Suburbs: Eminent Domain and the Geographical Politics of the US Foreclosure Crisis," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 40(6), pages 1094-1111, November.
    7. Yuanshuo Xu & Mildred E. Warner, 2015. "Understanding employment growth in the recession: the geographic diversity of state rescaling," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 8(2), pages 359-377.
    8. Jamie Peck, 2017. "Transatlantic city, part 2: Late entrepreneurialism," Urban Studies, Urban Studies Journal Limited, vol. 54(2), pages 327-363, February.
    9. Jamie Peck, 2017. "Transatlantic city, part 1: Conjunctural urbanism," Urban Studies, Urban Studies Journal Limited, vol. 54(1), pages 4-30, January.
    10. David S Bieri, 2015. "Crowdfunding the city: the end of 'cataclysmic money'?," Environment and Planning A, , vol. 47(12), pages 2429-2435, December.
    11. David Clifford, 2021. "Disparities by deprivation: The geographical impact of unprecedented changes in local authority financing on the voluntary sector in England," Environment and Planning A, , vol. 53(8), pages 2050-2067, November.
    12. Yunji Kim & Austin M Aldag & Mildred E Warner, 2021. "Blocking the progressive city: How state pre-emptions undermine labour rights in the USA," Urban Studies, Urban Studies Journal Limited, vol. 58(6), pages 1158-1175, May.
    13. Breznau, Nate & Kirkpatrick, L. Owen, 2018. "Urban Fiscal Crisis and Local Emergency Management: Tracking the Color Line in Michigan," OSF Preprints k9ve7, Center for Open Science.
    14. Jamie Peck, 2016. "Economic Rationality Meets Celebrity Urbanology: Exploring Edward Glaeser's City," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 40(1), pages 1-30, January.
    15. James Henderson & Christopher McWilliams, 2017. "The UK community anchor model and its challenges for community sector theory and practice," Urban Studies, Urban Studies Journal Limited, vol. 54(16), pages 3826-3842, December.
    16. Melissa Heil, 2023. "The politics of owing: Accounting, water disconnection, and austerity urbanism in Detroit," Environment and Planning C, , vol. 41(3), pages 485-503, May.
    17. Marit Rosol & Vincent Béal & Samuel Mössner, 2017. "Greenest cities? The (post-)politics of new urban environmental regimes," Environment and Planning A, , vol. 49(8), pages 1710-1718, August.
    18. Almeida, Renan P. & Hungaro, Lucas, 2021. "Water and sanitation governance between austerity and financialization," Utilities Policy, Elsevier, vol. 71(C).
    19. Mia Gray & Anna Barford, 2018. "The depths of the cuts: the uneven geography of local government austerity," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 11(3), pages 541-563.
    20. Dan Cohen, 2021. "Philanthropy to the rescue? Detroit’s schools and urban policymaking under austerity," Environment and Planning C, , vol. 39(7), pages 1547-1566, November.
    21. Maria Gunko & Benoit Conti & Alexander Sheludkov & Sophie Baudet-Michel & Anastasia Novkunskaya, 2024. "Lost in transformation: comparative analysis of healthcare provision dynamics within urban systems of European Russia and France," Post-Print hal-03771480, HAL.
    22. Yuanshuo Xu & Mildred E. Warner, 2022. "Crowding Out Development: Fiscal Federalism after the Great Recession," Environment and Planning A, , vol. 54(2), pages 311-329, March.
    23. Austin M Aldag & Mildred E Warner & Yunji Kim, 2019. "Leviathan or Public Steward? Evidence on Local Government Taxing Behavior from New York State," Publius: The Journal of Federalism, CSF Associates Inc., vol. 49(4), pages 671-693.

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