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"The old economic debate, Sunbelt versus Frostbelt, was a narrow, inward-looking approach," the report said.
The Frostbelt to Sunbelt shift of capital can thus be portrayed as the movement of money away from areas of intense class struggle to States where it was much lower, and potential profitability was consequently much greater.
Mr. Tobier, who believes that the figures released yesterday underestimate the city's population by 200,000 to 300,000 people called the city's population growth "remarkable" because "it makes New York one of the few older big cities in the frostbelt or the rustbelt to show an increase."