Most of us make our money from thin air: we produce nothing that can be weighed, touched or easily measured. Our output is not stockpiled at harbours, stored in warehouses or shipped in the railway car. Most of us earn our livings providing service, judgement, information, analysis, whether in a telephone call centre, a lawyer’s office, a government department or a scientific laboratory. We are all in the thin-air business.

Source: Charles Leadbeater 1999 Living on Thin Air: The New Economy (London: Viking)

a) Define Weightless Economy.

b) What in your opinion is the “thin-air business”?

a) There are different dimensions of Globalisation - The Economic Policy of Liberalisation, The transnational corporations, the electronic economy, The Weightless Economy or Knowledge Economy, and Globalisation of finance.

The weightless economy is referred to the economy in which products have information on their base for example - computer software, media and entertainment products and internet-based services. It is also known as Knowledge economy because in this economy not much physical work is required in the production and distribution of material goods. But it is required to make the design, development, technology, marketing, sale and servicing related to the product, for example – catering service to other known organisations providing services to organise various professional and family events like conferences and weddings.

b)

According to me, “thin-air business” is the business where the focus is mainly given to the appearance and delivery of the products rather than involving a large workforce for physical work in its production. It is about being more creative and continuing with trending thoughts and ideas. For example – if we are working somewhere, our hard work and output is not stored in a box, warehouse, shipped somewhere in railway cars or in something else. It cannot be measured, weighed or touched easily; it is like a “thin-air”. We are earning our livelihood by providing the number of services, judgement, advice, information or analysis. We work in a telephone call centre, in government institutions or departments, scientific laboratory, etc. All this could be defined as “thin-air business”. In this world, everyone in one or the other way is involved in this type of business.