1. Reading 4.3 distinguishes owners and employees based on their roles in production. Owners are the people who own the means of production and make money from the business, while employees sell their labor in exchange for wages. For example, a restaurant owner owns the business and makes money from it, while the workers serve customers and receive a paycheck.

2. I understand Adam Smith’s quote as saying that labor is an important source of economic value. The work people put into producing a good or service is what gives it value, not just the money that is attached to its price.

3. I agree with the argument in Reading 4.4 that class isnt simply an identity. Class is more about a someone’s position in the economic system and whether they own productive property or have to work for wages. Someone can identify as middle class because of their lifestyle, but their actual place in the economy can still place them in the working class.

4. The close form of dependency means that workers and owners depend on each other, but in different ways. Workers depend on employers for jobs and wages, while owners depend on workers to produce goods or services and help generate profits. For example, an Amazon driver can depend on Amazon for job security and a paycheck, while Amazon the company itself depends on drivers to deliver products to customers.