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ABSTRACT:
Contemporary theories of urban redevelopment are compared to traditional folk legends about cities and corporate beneficence. The generally negative portrayal of corporations and their role in rebuilding parts of cities has strong parallels in legends that paint corporations as uncaring profit mongers and unresponsive citizens. There is an equally strong folk tradition, however, that has corporations behaving in a self-interested but responsive way to the real needs of urban residents. The reasons why this parallel tradition was lost to theories of urban redevelopment are explored and the implications for rebuilding cities in ways that are both profitable and responsive to a broader public interest are considered.