Hey Look How Graceful The Dollar Looks In Yester Years! Will Redesigning Help In Reviving The Value?

Not so long ago, the US dollar ruled the currency world with utmost elegance, but now like an injured monarch on the battlefield, it is valiantly trying to regain its initial status. The recession has damaged the value of the dollar and reestablishing its past glory looks quite uncertain now. But some optimists feel that the dollar can rule the world once more if it is redesigned and rebranded. Better social acceptance and mental connectivity are the motives, according to marketing psychologists, which have driven dollar architects such as Richard Smith into giving the dollar a new look. While on the subject of the dollar design, you can take a look at these snaps of the dollar in earlier times as presented on Mintblog.

Richard Smith feels that the devaluation of the dollar has not got as much to do with the economy or politics of America, bit with how it looks. He feels that the dollar is no comparison to the Euro in looks and that’s why the latter is faring better. This is what he has to say “…our great rival, the Euro, looks so spanky in comparison,” to US currency that, “…it seems the only clear way to revive this global recession is to re-brand and re-design.” The concept seems to go in line with the logic of corporate rebranding. Richard Smith even organized a contest in which people could come up with ideas for redesigning the dollar. Connecting the dollar emotionally, might help to a certain extent in reviving its value but do you think this is going to work?

Firstly, the US dollar is not a commercial product which can rise or fall in value according to the whims and fancies of people. Tomorrow, when people are bored of this new design, is the value of the dollar expected to fall once again? In other words, why is the concept of corporate rebranding being applied to a national denomination which is ideally meant to stay out of the gamut of marketing and business? The very idea of rebranding the dollar makes the current currency absolutely unappealing! So should people stop using the dollar if they don’t like it? And even if they stop using it, how will they survive? A business product on the other hand is optional. If you don’t like a rebranded product you don’t use it. But can you do that with the dollar? Whether you like it or not you’ve got to use it. If you don’t like a rebranded product, you are free to use another of your choice. But if you don’t like the look of dollar, you can’t probably pay up using any other currency!

Who is using paper currency these days? Major money transactions are taking place via plastic money exchange and also through electronic transfer. So how much is a dollar redesign going to help in reviving its value?

The devaluation of the dollar happened due to reasons more serious than its aesthetics. Viewing it as a market product which can elevate its demand by mere redesign and branding is a foolish blunder !