A term used by entrepreneur Pete Sisco to mean; ‘a personal economy, largely under the control of the individual who owns it, equal to one-billionth of the global economy.’
According to Wikipedia, the current Gross World Product is equal to approximately US$78-trillion/year.
The metric prefix, nano, represents a value of 10-9 or one-billionth of a unit.
Therefore; a Nano-economy = One billionth of the annual Global Economy = $78-trillion/yr ÷ 1 billion = $78,000/yr
If you are interested in building your own personal nano-economy, visit this website.
The term, nano-economy, should not be confused with the term, nanoeconomics.
Wikipedia defines nanoeconomics as: “The economic theory of single transactions. The term was proposed by Kenneth J. Arrow in 1987. The term has also been used to describe a level of analysis below traditional microeconomics, and to describe the economics of nanotechnology.”