Thanks Jeff - that's exactly my fear. I still think that if the city makes some good infrastructure improvements it can regain the advantages that made it a world-class city before the automobile - a central point for goods to be traded, labor and capital to be applied to raw materials, etc. But you are right that it probably

I would argue about the distance issue you set-up in Arg #2. It's not just the distance, it's the mode of transport. In terms of energy efficiency Ships are the best, Rail is next and then Trucks. In fact you can use wind power for ships! NYC has a world class harbor, connected to the Hudson River / Erie canal connection to Great Lakes and some good rail connections (although most of those are used for moving people now). That will be it's greatest advantage in the future.

sorry, I realize I didn't finish that first paragraph: "But you are right that it probably...will face a major disruption as the "paper trading" businesses need to be replaced by real value added services that are more tangible.
I think you´re right. A good harbor is critical. While rail is efficient for freight, water is superior (especially if you´re not in a hurry). The last hurrah of sail freight in my part of the world were steel hulled, steel masted square rigged tall ships. In the early 1900´s they supplied northern Europe with grain from Australia and guano from Chile. The more modern ships used steam power not for propulsion but rather for weighing anchor, hoisting sail, loading/unloading etc. This allowed a very small crew (<30) to move 100 meters of boat carrying 4 kilotons of cargo at almost 6 knots average. If this was not only possible but also profitable 100 years ago, surely there must be a bright future for sailing.