What do you mean by the term Weightless Economy?

The term weightless economy refers to the sale and purchase of intangible assets.

These include- intellectual property, trademarks, computer software, consultation, etc. It involves trading those goods and services which does not have weight.

*Weightless economy refers to the significant shift in the priorities of major economies from the production & manufacturing of traditional goods and services to the production of intangible stuff.

*The term weightless economy was coined by Danny Quah, an economist at the London School of Economics, in 1999. He invented the term in response to the drastic changes that were taking place in the economy at that time.

*However, in the current situation, we see artists distribute their songs online via streaming services like Spotify or other mediums like the iTunes store.

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