What If New York Wasn't Bailed Out in the 1970's?

Searched titles for this, but couldn't find anything. Apologies if I missed an older thread.


Not an economics person but would having NYC going under affect the country and the world economy that much or would we have had another depression?
 
In 1970 NYC still has about a million more people living in it than Chicago and LA combined, and it's the center of the Northeast Megalopolis. Even if it declines by the same percentage as Detroit did since that time it will still be as big as LA in 2010.

Although, it'd be interesting if Wall Street moves to LaSalle Street (Chicago), or if the decline causes a couple of boroughs to secede.
 
Searched titles for this, but couldn't find anything. Apologies if I missed an older thread.


Not an economics person but would having NYC going under affect the country and the world economy that much or would we have had another depression?

Well presumably it would have gone through some kind of municipal bankruptcy and had to restructure its entire public budget and debts - which it ended up having to do anyway, but in this scenario, it's probably harsher. So NY probably winds up being even more crime-ridden and socially combustible in the '80s than it was OTL, though by today it's probably back to its preeminent position.
 
Grand Central Station gets flogged off for tuppence hapenny and I lose my temper on an epic scale whenever I hear about it. I went there last year and I cannot believe that they nearly sold it off to property developers! :mad:
 
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