1. Owning Class would be the ones living off mostly investments , stocks , bonds , property income etc . Employees live off wages , salaries , fees etc . For example An owner would be considered Magic Johnson which he owns a movie theater , and the employees would be the people that work for him in his Theater.
  2. Adam Smith, one of the founding theorists of capitalism, noted in 1776 that “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
  3. My thoughts on the reading are , liberals would say class is an identity , and how class is more about interests and actions I dont agree . I do believe that class isn’t an identity. race and gender is how you can I identify someone for example a line up at a police station , for you to identify someone would have to be how the look , gender , race not according to your income and how much stock and bonds the person has to identify .
  4. Close form dependency to my understanding would be how a “worker ” have to be dependent on the employers for jobs to live on wages .

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