Until this morning (call me ignorant) I had not come across the concept of the 'weightless economy'. It was mentioned by an economist while talking about the recovery of the New Zealand economy.
So what is it? I honestly don't know but I have a book on reserve at the local library that I am going to get out shortly (within the next hour) and will start reading.
Here is an excerpt from an article published in The Economist -
What is the weightless economy?
"By the weightless economy, I mean that part of the economy comprising the following four categories:
1. Information and communications technology (ICT), including the Internet.
2. Intellectual property, including not only patents and copyrights but more broadly, namebrands, trademarks, advertising, financial and consulting services, health care (medical knowledge), and education.
3. Electronic libraries and databases, including new media, video entertainment, and broadcasting.
4. Biotechnology, which includes carbon-based libraries and databases, as well as pharmaceuticals.
Here's my hypothesis - a weightless economy is one that uses and embraces the knowledge economy and virtual skills of people to generate revenue and ultimately create wealth.
The idea of an economy that is not centred on bricks and mortar, buildings or manual trades strikes me as being real common sense. It also begs the question - are you lowering or increasing your weight as a part of the economy?
Am I right - let's wait and see. In the meantime here a few websites I found that focus on the aformentioned concept -