Rather than the centralization that some pessimists had predicted , the new communication - the world wide web, e - mail , fax - machine , mobile phones and pagers, satellite - TV, cable, and a whole range of office electronics, including photocopiers, answering machines, word processors and varied electronic networks will lead to decentralized communication. (Benjamin D. Singer, n. d.)
In the field of banking, physical interaction, once the hallmark of any bank, has been relegated to the background. The emphasis is on the use of electronic messages for money transfers and the use of automated teller machines for cash deposits and withdrawals. Stock exchanges and other such institutions, which entail vast flow of funds, are being replaced by electronic entities, like web pages which simulate bank counters or stock exchange counter.
The German words Gemeinschaft and Gesellschaft denote community and society respectively; Gemeinschaft encompasses increase in cohesion between members of a community and requires a greater deal of shared values and beliefs amongst them.
In a community greater emphasis is placed on the community than on the individual. ...