Free Essay Sample. the Middle Segment of the Market

A polarized market refers to an economic change in trade, where the retail of commodities is dominated by a few suppliers who are not able to meet the needs of all the consumers. In the past, the markets used to have perfect condition with a broad range of traders offering a wide variety of products from the cheap and most needed to the expensive luxuries. However, this condition is no longer the case in today's market. There is a polarization of the markets into two segments, that is the top and bottom due to the accumulation of more wealth by the people and also the first rising technology. In essence, the middle segment of the market has vanished since people choose to either settle for top-quality products or consume value-driven products.

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Creators and Servers in the Market

The creators have more focus on productivity compared to the servers. They can withstand the pressure from the IT revolution and the globalization effects. Creators are also able to find perfect solutions to the challenges facing their enterprises since they have mechanisms of providing solutions to the problems that people face in the economy ((Darling-Hammond 72). For instance, they can artificially sustain people's living standards through the creation of massive bubbles in the credit and housing sector. Moreover, they also have the capabilities of absorbing all the unskilled labor into the job market by creating a housing construction industry.

The Role of Technology in the Polarization of Markets

Technology has led to a significant tectonic change in the markets. Unlike in the past, when the businesses took a longer time to recover from the recession, the use of technology today has fastened this process by shortening the recovery period. There are a series of outsourcing and digitization of business processes that leads to super connections of the international markets leading to efficiency in performing various jobs.

Further, the use of technology has increased the potentials of the firms to save their costs on production. The companies using modern technology can produce more goods and services with fewer workers while also spending little capital. They use machines and microchips to perform most of the duties meant for the manpower; hence, addressing the structural challenges in the labor markets. The use of technology has also enabled firms like Colorado ski resort to improve its services at the lift tickets. Contrary to its previous manual methods of serving clients, it settles on the modern way of using plastic cards to enhance its services. Further, it develops a more convenient way of using handheld scanners that also is a technological advancement in the provision of its services to the people (Darling-Hammond 74).

Importance of Developing Higher Critical Skills

The development of higher critical skills is an essential aspect of the success of every business. It leads to the introduction of new ideas about handling business processes through innovations. For instance, Colorado ski resort introduced handheld scanners to replace their manual lift tickets meant initially to be clipped to the jackets for lift operations (Darling-Hammond 73). Later, through the use of higher skills, the business introduced yet another innovative idea that used credit-card-size of plastic.

The introduction and use of the automatic sensor cards save time for both the business and the clients since it helps to reduce the time wasted by the manual processes by the unskilled labor. Furthermore, the development of higher critical skills can also allow the business to cut its cost in terms of salaries. The new introductions by Colorado ski resort replace the number of laborers from four unskilled to one skilled who receives a relatively lower payment than the four.

Work Cited

Darling-Hammond, Linda. Flat World and Education. New York: Teachers College Press, 2015. Print. (Pages 72-74).