- Distinction Between Owners and Employees
In Reading 4.3, the difference between owners and employees is about who controls the business and who works for it. Owners are people who have businesses or factories and make money from them. For example, a person who owns a big company and earns money from the profits is an owner. Employees, on the other hand, work for these businesses and get paid a set amount for their work. For instance, a worker who makes products in a factory and gets paid by the hour is an employee. In New York the minimum wage per hour is $16.
2. Understanding Adam Smith’s Quote on Labor:
The quote by Adam Smith on page 28 of our reading 4.3 talks about how important work is in making money and creating value. It means that labor isn’t just about doing physical tasks; it’s about how work contributes to making and improving things that people need. Smith says that labor is key to building wealth and driving the economy forward.
3. Class as Not an Identity:
Reading 4.4 argues that class should not be seen just like any other identity, such as race or gender. Instead, it suggests that class is more about how people are connected through work and ownership. For example, class isn’t just a label like being part of a social group; it’s about whether you own a business or work for one, and how that affects your role in society. In my opinion, one could identify as a certain gender or race but cannot identify being in a certain class if their position in their workplace contradicts it.
4. Understanding Close Form of Dependency in Class Structures:
The idea of a “close form of dependency” in Reading 4.4 means that the relationship between business owners and workers is very interconnected and interdependant. Workers need jobs from owners to earn money for their livelihood, while owners need workers to run their businesses and make money. For example, if a restaurant needs cooks and waiters to operate, and the cooks and waiters need the restaurant to earn their salaries, this close connection shows how much they depend on each other to function well. A highly motivated workforce will result in efficient results which will result in higher profits that will pay for the wages of these workers.
