1. The distinction between owners and employees are wages and support. Owners make profit from “behind the scenes”, they use their employees to do the work for them while giving workers a quarter of their salary, this is how owners make money and remain in business. Employees are reliant on the owners of corporation. Without employee’s labor there would be no profit, vice versa, without owners there would be no income. Employees have no say over an owner’s strategy, leaving them with whatever directions an owner/ manager may give them, owners control strategy, but give litttle to no labor.
  2. I believe what Adam smith stated was, the labor of employees doesn’t reflect on the product, the real mone is how much effort and skill a laborer puts within a product. The true value doesn’t reflect on labor, but instead reflects on the demand of a product, as well as market conditions.
  3. While we shouldn’t consider class an identity, it is. Reason being those political, economic and social factors all influence class, by which we identify by those things every day. We get put in categories that identify us within itself. While not all the time, most of the time we get identified by occupation, education, where we reside, and even ethnicity. Class structure determines our power in society. No corporation? less profit, lower class. Capitalist? inflated profit, while enduring a higher social status.
  4. Class structures are based off a close form of dependency. Dependency ensures some form of profit within a capitalist or laborer. For example, capitalist depend on workers to reoccurring profit, and workers depend on owners? corporations for a steady income.

One thought on “Labor & Capital – Aniyah Kitson”

  1. Hi Aniyah,

    You make great points in addressing between owners and employees. I also do agree with we shouldn’t consider class as an identify. It shouldn’t make a difference in what social class a person is in if they share the same skills as any one else.

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