1. What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.
  2. How do you understand the quote by Adam Smith on pg. 28? What is it saying about labor?
  3. What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?
  4. How do you understand the argument Reading 4.4. makes when stating that “class structures are built around a close form of dependency”? What is this close form of dependency, and can you think of an example?

9 thoughts on “Discussion Board 4.2”

  1. The distinction between owners and employees lies in their relationship to the business, their responsibilities, and benefits. Owners have ownership stakes, investment risks, profit entitlements, and decision-making power. Employees are hired to perform specific tasks and receive compensation but do not have ownership stakes or associated risks and benefits. For example, the owner of a bakery invests capital, makes decisions, and reaps profits. At the same time, employees perform specific job duties in exchange for a steady paycheck without sharing ownership rights or business risks.
    Adam Smith’s quote, “The division of labor occasions a proportionate increase of the productive powers of labor,” encapsulates his belief in the power of specialized labor to drive productivity and economic prosperity.

    Class should not be considered an identity, challenging conventional beliefs. It distinguishes class as a social position from a personal or group sense of self and suggests that understanding class as a structural phenomenon allows for more effective political mobilization. Critics argue that class intersects significantly with other aspects of identity. In conclusion, it sheds light on the importance of collective action and the need to address the root causes of inequality.
    In Reading 4.4, it is argued that class structures are based on a “close form of dependency,” which refers to the intrinsic reliance between different social classes. This interdependence affects economic, social, and cultural aspects, shaping how individuals interact within society. For example, factory workers and owners were interdependent during the Industrial Revolution for their livelihood and wealth. Understanding this concept helps analyze how class dynamics impact social stability and change.

  2. Hey, I really enjoyed reading your post! You did a great job breaking down the differences between owners and employees. The way you tied in Adam Smith’s quote about the division of labor was spot on and really helped to highlight the importance of specialized labor.

    I also found your discussion on class as a structural phenomenon rather than an identity to be very thought-provoking. It’s a fresh perspective that challenges conventional beliefs and encourages a deeper understanding of class dynamics. The example from Reading 4.4 about the interdependence of social classes during the Industrial Revolution added a nice historical touch.

  3. 1. The reading distinguishes between owners and employees based on their sources of income and roles in the economy. Owners are individuals or families who live mostly off investments such as stocks, bonds, rents, and other property income, benefiting from the labor of others. For example, a wealthy stockholder of a giant corporation earns significant returns from their investments. In contrast, employees are individuals who work for a living, earning wages, salaries, or fees. This group includes factory and service workers, professionals, and managers. An example of an employee is a factory worker who earns a salary by working in a manufacturing plant. This distinction highlights the economic divide and the different ways wealth is accumulated and distributed.

    2. Adam Smith’s quote on page 28 emphasizes the fundamental role of labor in determining the value of commodities. He argues that the true value of all commodities is determined by the labor required to produce them, rather than their monetary price. It is the labor involved in processes like harvesting, manufacturing, and selling that transforms raw materials into valuable products. This highlights the idea that labor is the essential factor in creating value, showing its importance over capital. Basically, Smith asserts that labor is the core element that gives commodities their true worth.

    3. The main argument of Reading 4.4 is that class is not an identity but rather a structural position within the economic system. This perspective emphasizes that class is determined by one’s relationship to the means of production, such as whether one owns capital or sells labor. It contrasts with the idea of class as a fixed personal identity, suggesting instead that class is fluid and shaped by economic circumstances and power dynamics. This argument highlights the importance of understanding class in terms of economic relationships and social structures, rather than as a static trait. It also underscores the need to address class-based inequalities through systemic changes rather than focusing solely on individual identities.

    4. The argument that “class structures are built around a close form of dependency” suggests that social classes are interconnected through relationships of dependence. This means that the economic and social positions of different classes are closely linked, with each class relying on the other in specific ways. For example, the working class depends on the owning class for employment and wages, while the owning class depends on the working class to generate profits through their labor. An example of this close form of dependency is the relationship between factory workers and factory owners. The workers rely on the owners to provide jobs and pay their wages. In turn, the owners rely on the workers to produce goods and services that generate revenue and profit for the business. This interdependence highlights how class structures are maintained through mutual reliance, even though the benefits and power dynamics are often unequal.

  4. Hi Chong Lin Li,

    very detailed and in depth response. I also agree with your interpretation of question 4 and believe the interconnection is needed to satisfy both needs from the working class and the owners. Thanks for you insight and I enjoyed reading your response!

  5. Owners and employees have a dependency relationship , employees depend on owners to obtain their assets and owners depend on employees to stay in business .Although, the economic status is not the same between the employee and employer they both run similar difficulties for example owners compete in the market to stay in business and employees compete with employees to even get a job. Owners have much power over employees because they have the decision-making positions ,profit distribution, and ownership of the company while the employees are given instructions to complete different tasks in benefits of a paycheck.

    In quote “What transforms a tree into a profitable commodity such as paper or furniture is the labor that goes into harvesting”(Smiths.pg28) Adam Smiths emphasizes how workers don’t get paid enough for their labor, in fact capitalist get the profit that they don’t work for because they have what is called surplus value.Capitalist consist of families that live off stocks, investments, property income ect…compared to the working class they live off wages, salaries, and some government assistance but sadly the working class are exploited their entire life and most of them retire with little to no money to their name.

    Class should not be considered an identity because it compares the cultural beliefs and morality from the economic status of a specific group .In reading 4.4 it argues that class is not an identity because it is mostly a structural position in the economic system since these classes depend on each other .social hierarchies focus on the prestige a person has in their social class ; from economic wellness or even a social media influencer who seems “economically wealthy”. In contrast, economic classes focus most on the economic dynamic of who has “more wealth”.

    In reading 4.4 it explains how class structures are built around a close form of dependency because employees depend on capitalist and capitalist also depend on employees.Capitalist depend on employees to stay in business while competing in the market with other companies ;employees depend on capitalist to have a steady paycheck. For example 3rd world countries form a dependency with a much developed country and those developed countries end up exploiting these countries because of their class power.

  6. Owners and employees have a dependency relationship , employees depend on owners to obtain their assets and owners depend on employees to stay in business .Although, the economic status is not the same between the employee and employer they both run similar difficulties for example owners compete in the market to stay in business and employees compete with employees to even get a job. Owners have much power over employees because they have the decision-making positions, profit distribution, and ownership of the company while the employees are given instructions to complete different tasks in benefits of a paycheck.

    In quote “What transforms a tree into a profitable commodity such as paper or furniture is the labor that goes into harvesting”(Smiths.pg28) Adam Smiths emphasizes how workers don’t get paid enough for their labor, in fact capitalist get the profit that they don’t work for because they have what is called surplus value.Capitalist consist of families that live off stocks, investments, property income ect…compared to the working class they live off wages ,salaries, and some government assistance but sadly the working class are exploited their entire life and most of them retire with little to no money to their name.

    Class should not be considered an identity because it compares the cultural beliefs and morality from the economic status of a specific group .In reading 4.4 it argues that class is not an identity because it is mostly a structural position in the economic system since these classes depend on each other .social hierarchies focus on the prestige a person has in their social class ; from economic wellness or even a social media influencer who seems “economically wealthy”. In contrast, economic classes focus most on the economic dynamic of who has “more wealth”.

    In reading 4.4 it explains how class structures are built around a close form of dependency because employees depend on capitalist and capitalist also depend on employees.Capitalist depend on employees to stay in business while competing in the market with other companies ;employees depend on capitalist to have a steady paycheck. For example 3rd world countries form a dependency with a much developed country and those developed countries end up exploiting these countries because of their class power.

  7. 1.Owners and employees have a dependency relationship , employees depend on owners to obtain their assets and owners depend on employees to stay in business .Although, the economic status is not the same between the employee and employer they both run similar difficulties for example owners compete in the market to stay in business and employees compete with employees to even get a job. Owners have much power over employees because they have the decision-making positions,profit distribution,and ownership of the company while the employees are given instructions to complete different tasks in benefits of a paycheck.

    2.In quote “What transforms a tree into a profitable commodity such as paper or furniture is the labor that goes into harvesting”(Smiths.pg28) adam smiths emphasizes how workers don’t get paid enough for their labor, in fact capitalist get the profit that they don’t work for because they have what is called surplus value.Capitalist consist of families that live off stocks,investments,property income ect…compared to the working class they live off wages,salaries,and some government assistance but sadly the working class are exploited their entire life and most of them retire with little to no money to their name.

    3.Class should not be considered an identity because it compares the cultural beliefs and morality from the economic status of a specific group .In reading 4.4 it argues that class is not an identity because it is mostly a structural position in the economic system since these classes depend on each other .social hierarchies focus on the prestige a person has in their social class ; from economic wellness or even a social media influencer who seems “economically wealthy”. In contrast, economic classes focus most on the economic dynamic of who has “more wealth”.

    4. In reading 4.4 it explains how class structures are built around a close form of dependency because employees depend on capitalist and capitalist also depend on employees.Capitalist depend on employees to stay in business while competing in the market with other companies ;employees depend on capitalist to have a steady paycheck. For example 3rd world countries form a dependency with a much developed country and those developed countries end up exploiting these countries because of their class power.

  8. 1. The distinction between owners and employees is the sources of income between both parties. The owners generate their income through their investments and ownership of the assets which they make profit. With employees they earn their profit by wages in exchange for labor. The reading show how owners benefit from the economic value produced by employees, highlighting the disparity in income sources and wealth accumulation between these two groups.In “Inequality and New York’s Subway,” an example of owners would be the shareholders or investors who profit from the ownership of the subway system or related infrastructure. These owners make money through their investments, receiving returns in the form of dividends or profits from the operation of the subway system, rather than through direct labor. An example for employees an example would be subway workers. The subway workers employees tend to make their salaries based on their labor which is providing services to operate and maintain the subway system.
    2. Adam Smith quotes,“ The division of labor occasions a proportionate increase of the productive powers of labor,”emphasizes the importance of labor in generating wealth and value. The quotes mainly emphasizes smith’s point of view of labor which is creating values and wealth.This emphasizes the notion that labor is the primary factor in creating value, demonstrating its superiority over wealth. Smith essentially contends that labor is the fundamental component that determines the genuine value of commodities.
    3. The main argument in the reading is that class should not be considered as an identity, it should be seen as a position in the economic system. The theory emphasizes that class is defined by one’s place in the economic structure how people interact with production, money, and labor rather than personal traits or self-perception. This turns the attention away from individual identity and self-concept and onto structural features of economic systems.
    4. The argument “class structures are built around a close form of dependency” it suggest that class relations are determined by complex and interrelated economic and social interactions. Which is suggesting the common difference between the different classes. For example, the public transit system such as New York’s subway system. Subway workers, including operators, maintenance crews, and ticket agents, rely on the transit authority to provide wages and working conditions. The transit authority rely on their workers to continue a smooth working system allowing millions of people to commute to work or school with no issue which is contributing to the economy. This creates mutual dependence because without the workers, the subway system would fail, affecting the entire city’s economy. The workers are depending on the transit systems salary to make a living and to provide for themself. However, the relationship is unequal because the transportation system’s owners or administrators have a greater effect over working conditions and income, while workers have little control over how their labor is utilized or returned.

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