Draft:Luftgeschaeft

Luftgeschaeft (לופט געשעפט), (Luftgeschäft) also written luftgeschaft or luftgeschäft is a derogatory term towards unstable companies and unproductive professions of abstract goods. It is derived from the German words Luft, meaning air; and Geschäft, meaning business. A livelihood from luftgeschaeft is one of the stereotypes attributed to the diaspora Jew, and middleman minorities in general, in contrast to the new Jew who works in agriculture and industry.

Uses
Ber Borochov described the employment structure of Ashkenazi Jews as an inverted pyramid, a narrow base with a few Jews working in productive employments, and on top of it the wide area that encompasses most Jews who have various "air businesses" like mediation, trade, and money-lending.

In Modern Hebrew, the phrases "luftgeschaeft" and "air business" were more common in the past, but are still used as derogatory terms for various professions like the arts, law, investing in the capital market and in the stock exchange, various financing and trading businesses, and specifically in cryptocurrency trading. For example, some have made the comparison between Israeli businessmen IDB group's Nochi Dankner and ISCAR Ltd's Stef Wertheimer to illustrate the differences between a luftgeschaeft, or an air business, and a productive company.