Andrew Ross Sorkin Needs to Spend More Time with Billionaires

Andrew Ross Sorkin Needs to Spend More Time with Billionaires
AP Photo/Ted Shaffrey, File

Is $1,000 dropped into the middle of Long Island City the same as $1,000 dropped on 79th & Madison in Manhattan? To some the answer is yes. A dollar is a dollar after all.

To others, including New York Times columnist Andrew Ross Sorkin, $1,000 in Long Island City is of much greater use than the same amount on the Upper East Side simply because someone in Manhattan's East 70s probably has a lot of money already, and wouldn't spend it. A Long Island City resident is not only more likely to need the money, this person would quickly “stimulate” the economy by spending it right away. 

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