The notion that cities chosen to host the Olympics are guaranteed to reap a financial windfall for years to come is flatly untrue, according to noted U.S. economist Andrew Zimbalist, who has spent years scrutinizing the costs and benefits of major sporting events. Zimbalist dissected the extravagant promises and deep pitfalls of past Olympic experiences and handicapped Los Angeles’ chances of success in hosting the 2028 Summer Games at the Luskin School’s first Transdisciplinary Speaker Series event of the academic year. Host cities have been beset by cost overruns, environmental degradation and displacement of local populations, he said. And with fewer cities willing to bid for the Games, the International Olympic Committee has been forced to consider hosts with questionable human rights records. “It’s valuable to have the best athletes from around the world congregate in the Olympic Village and live together and model what peaceful co-existence looks like,” he said, “I just don’t like the way it’s organized now.” As for the upcoming L.A. Games, “Yes, there’s a risk, but I think it’s a safe risk,” said Zimbalist, an author and professor of economics at Smith College. Southern California is already home to major sports venues and other infrastructure, including a ready-made Olympic Village at the UCLA dormitories, which also accommodated athletes during the city’s 1984 Games. For the future, Zimbalist envisioned permanent Olympic venues — for summer, perhaps in the area between Olympia and Athens, Greece. “There’s no reason, either environmental or economic, to argue for rebuilding the Olympic Shangri-La in a new place every four years,” he said.