"Downtown? L.A. Doesn't Need One" writes Joel Kotkin in today's LA Times. He points out that times have changed and downtowns are, with very few exceptions, not significant or particularly useful.
This at a time when everyone in sight has signed on to another multi-billion dollar downtown renewal project that will have about the same effect as all of the other ones that we have been through since the 1950s. Insiders will cash in; taxpayers will be ripped off; politicians and their acolytes will preen -- and downtown L.A. will remain what it has been for the last 50 years: of very minor importance.
There is no perceptible learning curve on these matters and (textbook economics aside) there is no equity-efficient trade-off. Just less of both.