Monday, September 20, 2010

Analytical Blog: The Dollar ReDe$ign Project

As the effects of the recession continue, American citizens maintain the debate on the best methods to restore the economy. Common solutions include finding ways to unburden the taxpayer create more jobs, and decrease dependence on foreign resources. But according to Richard Smith, the key to renewal is rebranding the dollar bill. That's right--a new design. Yet regardless of how aesthetically pleasing a new crisp wad of twenties would be it is difficult to comprehend how they would translate into greater financial security.

According to Smith, a creative strategy contsultant, the appearance of American currency pales in comparison to the more vibrant, not to mention more valuable, Euro. And despite the fact that it has undergone a cosmetic lift in the past decade in the ways of bolder colors, color-shifting ink, and new watermarks, Smith believes not much has changed since the 1930s.

That is why he created The Dollar ReDe$ign Project, which has already gained national attention for both its vision and flaws. Anyone who is interested was encouraged to upload their proposals to the site. Even though the 2010 deadline has passed, people can still view current and past submissions until September 30.

Smith writes on his blog that currency is the "ultimate symbol" of a country because it "distills a country's vision, values and the heritage that make[s] it unique." The same could be said of a flag, nevertheless Smith has a point; how seriously one should take that point is the question. After all, how are Americans going to enjoy new currency if they are seeing less of it these days?

Another issue is the cost of a new design itself. Cash production costs money, approximately four cents for each note. And some of the ornate, color saturated designs Smith proposes could possibly increase that rate putting a further dent in the economy.

If they wre hre today, I think George Washington and Benjamin Franklin would aggree that they are fine on their green landscape: America has bigger issues to worry about.

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