The Economics of Generation Z

Economics of Generation Z Name Institutional Affiliation Economics of Generation Z As arguably the most connected, sophisticated, and educated generation ever, Generation Z has a significant influence on the world and the trajectory that it takes going forward. As a relatively young generation, this group has been exposed to a significant amount of information and technology within a very short period, essentially making them highly attuned with technology (Stillman & Stillman, 2017). At the same time, the advent and boom of the internet coupled with the development of new forms of media have resulted in the development of highly specific media consumption habits across Generation Z. Taking these measures into account, some issues become apparent. First off, Generation Z members are tech-savvy and entrepreneurial. This means that the economic goals and ideals of this generation are more focused on personal economic growth and the accumulation of wealth through entrepreneurship and the development of technologies such as mobile applications. At the same time, it becomes essential to understand that Generation Z members tend to prefer cool and edgy products over cool and edgy experiences. Having the best and savviest technologies becomes a core factor that influences the mannerisms and motivations of Generation Z members (Stillman & Stillman, 2017). Because of this, the economic habits of Generation Z members are more focused on acquiring amazing and savvy products. This partly explains the high level of attachment for these group members with gaming technologies, for instance. By this measure, it becomes quite clear that Generation Z has a significant influence on the economic and social culture that the society adopts. On another trajectory, Generation Z members are keen on becoming co-creators of culture. To them, influencing social and economic culture is of paramount importance (Seemi...