1. The main distinction between owners and employees according to the reading 4.3 is that owners are primarily those who live off investments. For example, those with stocks, bonds, rent, and those with other forms of primary income. An example of an owner in this case would be a person who is wealthy, mainly obtaining their money through dividends without working for them. In contrast, the employees are individuals that live off wages, salaries, etc, from their own labor. An example of an employee would be an office worker who earns their wage by working under another supervisor or company manager overseeing other employees to complete similar tasks. The difference is based on how owners acquire wealth by benefiting from the labor of others while the employee earns their income by working themselves. 

2. The quote by Adam Smith states, “labor … is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared. It is their real price; money is their nominal price only.” Within this quote it displays the idea that the value of products is perceived by the amount of labor put into that specific task. Even after that quote the sentence afterwards states, “What transforms a tree into a profitable commodity such as paper or furniture is the labor that goes into harvesting the timber, cutting the lumber, and manufacturing, shipping, advertising, and selling the finished product—…” It provides a perspective about the actual work, effort, and time that went into creating something of value. While the monetary value is representative of the value of said product only being used as a source of exchange. The quote suggests that the use of money itself to show value isn’t necessarily representative of the product itself, but of the labor that goes into it. 

3. The argument about class politics not being an identity, but rather as a structure of power was interesting to see being discussed. Heideman displays that socialists do not deny that class can form an identity, it is distinct from other identities because it is foundational to the power structures that shape society. This structural relationship gives class a special status in socialist thought, making it central to addressing not only class oppression but also other forms of inequality. This structural perspective emphasizes how class shapes people’s conditions, actions, and interests, which are inherently different from race or gender identities. Class conjures exploitation and dependence, where capitalists rely on workers for profit, and workers depend on capitalists for jobs.

4. In reading 4.4 in regards to the statement, “class structures are built around a close form of dependency” is referring to the relationship between the capitalists and workers and how they are dependent on each other. This is structural because of the fact that capitalists are relying on the workers to make profit while the workers are dependent on the capitalists to provide wages for their jobs. The capitalists want to maximize their profits for as little loss as possible and this philosophy causes a detriment to their workers through terrible work conditions and well-being being significantly reduced in the workplace. An example of this can be people who work in factories working in assembly lines, completing monotonous work. For instance, Apple factory workers are displayed to have unfavorable working conditions in their production facilities. This is particularly in overseas factories where numerous reports of consistently long hours, low wages, and low recreation times. These workers are extremely beneficial to the company as they can produce their products at an accelerated rate and for next to nothing in terms of wages. These workers are inherently trapped in these conditions for economic necessity as they need these wages to survive. This displays the direct imbalance between the workers, and the capitalist’s need for more profit.