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Full Description
Drawing heavily on contributing cultural and ethnic factors, this book analyzes Miami's fiscal insolvency since 1996 and describes what led to the financial crisis, the explanations for the crisis, and the reasons for a slow recovery. Comparing Miami's insolvency with the earlier fiscal crises in Philadelphia, New York City, and Orange County, CA, the authors show the role of Miami's poor economic climate, the increasing ethnic influence, the emphasis on fiscal conservatism and a pay-as-you-go philosophy, the lack of standard and professional budgetary practices, and the corruption of several city officials. In conclusion, the authors consider Miami's outlook for the future.
To fully understand Miami's original crisis and the extremely slow financial recovery, the authors believe it is necessary to explore how the dominant culture contributed to the city's financial problems. The authors show that structural features of the local government are less important than broader cultural and ethnic attitudes and practices.
Contents
Foreword Preface Introduction: Methodology and Elite Perceptions of the Fiscal Crisis The Latinization of Miami: The Forming of an Ethnic Cauldron The Fiscal Crisis: What Went Wrong? The Long Road to Recovery: A Record of Fits and Starts The Economic Base Problem The Miami Fiscal Crisis in Comparative Context The Miami Fiscal Crisis as Ethnic Entitlement? Political Reform or Ethnic Conflict? Bibliography Index
