School of Business
Business Administration; Business: Economics; Business: Finance
globalization, technology, economic restructuring, smart cities, prosumers, urban future
Accounting | E-Commerce | International Business | Technology and Innovation
Wade, Shannon L., "The Future Smart-City: An Analysis of the Effects of Global and Technological Innovation on the Evolution of Economic Systems" (2019). Senior Honors Theses. 880.
In 21st century, the current economy is rapidly utilizing globalization to create a vastly different future. With the advent of new technology merging with entrepreneurs who effectively utilize that technology, the economic model is changing. Faster, sleeker, more effective forms of communication and information transfer drive the process of globalization. Production for a single product can happen in multiple countries, companies can operate virtually 24/7 through call centers halfway around the globe, and preliminary smart cities are beginning to emerge to give us a glimpse of the future world. A new category of businesspersons called “prosumers” is emerging and has created a new sharing and soon-to-be self-service economic structure. Analysis of the two drivers of economic change—globalization and technological innovation—will reveal how close civilization is to the city of the future.