However you want to dress it up, its called thinking. Imagine if us ordinary Joes put the equivalent on our CVs – “I like to breathe, pump blood around my body and read Jacobean tragedy.”

And blue-skying is the worse kind of thinking as it doesn’t have to justify itself and rarely considers consequences. Our current economic plight is the result of blue sky thinking. A few mofos sitting around dreaming up ways of making money from thin air and BOOM, sub-prime mortgages appeared. Some other mofos then start thinking how they can make even more money from this new money that doesn’t exist and BOOM, CDOs, hedge funds, derivatives and the world is ‘ucked. Why couldn’t they sell crack on street corners like everyone else!

Must be fair though, there are blue skyers that do good work – the chaps and chapesses that dream up new products and technology. They don’t always get it right, but their original idea may form the genus of a successful product. The reason why these guys are good blue skyers is that they have powerful forces that regulate them on a daily basis – the marketplace… you and me.