Financial Crisis in 1970s
In the 1970s, New York City was nearly bankrupt and losing population. Inside and externally, subway trains were covered with graffiti. There was a lot of crime. Women were advised to take off their jewelry when strolling along the street for fear of having their necklaces torn from their necks.(Rhp)
As from the photo "Lost in City", one may tell that although New York City is the Big Apple to many and is a place where one's dream may be fulfilled, it is also a place where one might feel lost. One may reasonably argue that life in New York City is in fact miserable due to high crime rate and subjectivity to any financial unstability.
Contrary to the seemingly hustle and bustle, I could see, from the photo "Desperate" a man lying on the street while among the people surrounding him, there is nobody willing to help him, give him a hand or provide appropriate medical assistance. They are queueing on the street, waiting for necessary supply to be distributed, looking so cold that it reminds of the Great Depression, which is a financial catastrophe that led many to become desperate.
As stated previously, New York City suffered a fiscal and budgetary crisis. Global economic changes (a worldwide recession and oil shortages); federal, state, and local fiscal and tax policies that failed to generate the resources needed to support growing demands for services; and demographic and political changes in New York City that left the city with less wealth and more need were all factors that contributed to the fiscal crisis. (Shefter, 5) Furthermore, New York City bankers made a decision to stop lending money to the city(Netzer, 11) putting the city at risk of defaulting on its outstanding obligations and declaring bankruptcy.
I could now understand how desperate the people, living at that time in the New York City, would be. The failure in federal policy and bankers' bold decision must have spawned a wave of fear and uncertainty to the residencts. What's more, business and corporations owners were gradually losing confidence and gaining anxiety, which result to their decision of leave Manhattan. Just like the man shown in the previous photo, they were desperate about the future of continuing doing their business in Manhattan and they left just to secure their interests.