1. What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.

Owners: People who have money, and property, and make money from investments. They don’t necessarily do the work themselves. Example: A person who owns a chain of hotels and earns money from the rent paid by guests.

Employees: People who work for a living and are paid wages or salaries. They perform the work needed to produce goods or services. Example: A hotel worker who cleans rooms and manages bookings.

2. How do you understand the quote by Adam Smith on pg. 28? What is it saying about labor?

Adam Smith said that the true value of things is based on the labor that goes into making them, not just the price you pay for them. It means that labor is what truly determines the worth of a product, and money is just a way to measure that value.

3. What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?

The main argument is that your social class (like being working class or middle class) isn’t just about who you are or how you see yourself. It’s more about your role in the economy and how you fit into the system of work and wealth.

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?

This means that people in different social classes rely on each other in specific ways. For example, workers depend on their employers for jobs and wages, while employers depend on workers to run their businesses and make profits. This mutual dependence shapes class structures.