In 2013, Detroit filed the largest municipal bankruptcy in US history. That dubious honor marked the end of a long decline, during which city leaders slashed municipal costs and desperately sought to attract private investment. That same year, an economically resurgent New York City elected a progressive mayor intent on reducing income inequality and spurring more equitable economic development. Whether or not Mayor Bill de Blasio realizes his legislative vision, his agenda raises a fundamental question: can American cities govern, or are they powerless in the face of global capital?...