Despite the mountain of gold that has been built downtown, Los Angeles remains vulnerable to the same explosive convergence of street anger, poverty, environmental crisis, and capital flight that made the early 1990s its worth crisis period since the early Depression.
In "City of Quartz: Excavating the Future in Los Angeles," Mike Davis highlights the paradox of downtown Los Angeles. Although the area has seen a significant influx of wealth, symbolized by the towering skyscrapers and economic development, the city still grapples with deep-seated issues. These include social unrest, widespread poverty, and environmental challenges, reminiscent of the turmoil experienced during the early 1990s economic crisis.
Davis emphasizes that the dramatic wealth accumulation does not shield Los Angeles from societal fractures. The confluence of discontent, financial instability, and ecological degradation indicates that the city's prosperity is precarious. The ongoing risks underscore the need for a more equitable approach to urban development that addresses the underlying vulnerabilities rather than just the superficial glitz of wealth.