- The distinction made between owners and employees is the amount of work they do vs the amount of money they make. Owners are responsible for giving work to the employees while they make their passive income. They find ways to get the most pay out for the least amount of pay towards the worker. While the worker is valued for their ability to produce more. People may view the owners as the producers but it’s really the employee who produces and they earn their living on wages and salaries
2. I understand the quote by Adam Smith to be saying that labor is of much more value than money.sometimes we may see money as the prize but without the labor of the working class no one would be able to profit. How much work one is willing to do and the quality of work in which one is willing to do holds the real value.
3. I understand why some people may believe that class is apart of your identity. The late sociologist Erik Olin Wright said something that stood out to me “What you have determines what you have to do to get what you get” generational wealth is real and some people pride themselves on the fact that they have had to work their way up from nothing to even be apart of the “middle class” or “upper-middle class”. Some people have to work ten times harder than others because of certain opportunities they did not have growing up. The article also states “people who have similar levels of advantage or disadvantage could easily be imagined to form some common identity based on their shared situation”. This also stood out to me because its human nature to want to bond over a shared experience and in that people tend to create an identity for themselves and banned together with people who have also made that experience apart of their identity.
4. The article states that “class structures are built around a close form of dependency” meaning the upper class or the “owning class” depend on the working class to keep their companies in business and to keep revenue and passive income coming in. The working class are dependent on the owning class to keep them employed and pay them a livable wage to be able to pay their rent and feed their families.
