Modern And Innovative Market Analysis Essay - 1409 Words

America is shifting to a completely digital economy. The modern and innovative market relies on improvements to be made to stay fresh and new. This shift makes sense as so much of our lives have become digital. Our homes’ appliances can be turned on and off on our phones, our credit cards can be scanned from our phones, typing is a corner stone application in public schools. However, the push to digitize your wallet is a step that may be too risky to undertake in American society. Issues that come from the loss of physical cash must be placed on the scale prior to the transition over. The psychological, social-economic, and the logistical nature of the market and its participants seem to be overlooked for the quest to modernize and presumable efficiently. While some may argue that gradual phasing out of physical currency can promote ease of use and solve economic situations found in the American economy, it is wrong to believe that the logical step is to change the nature of o ur currency. It is important to know where humans are coming from up to this point in our history. Knowing what the history of currency is and why civilization uses it helps explain the present. Since the ancient Greeks, physical coins were used to convey a value in trade. They were made of tin, nickel, and silver. Many currencies were, and some still are, represented an amount of wealth based on the value compared to a valuable metal. The most common example of this commodification is that of the goldShow MoreRelatedManagement Practices Traditional vs Modern Innovative997 Words   |  4 PagesManagement Practices Traditional vs Modern Innovative In last many years, few management accounting innovations has been developed. 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