Owners and employees are different because they get their money in different ways. Owner’s make money from the work of other people and from things they own, like businesses, stocks, or property. For example, a person who owns a company can make money from the work of the employees in that company. Employees, on the other hand, work for someone else and get paid a wage or salary. For example, a cashier works for a store and gets paid for the hours they work. The reading also explains that workers create the value of products and services through their labor, while owners receive the profits. So, the main difference is that employees work to earn wages, while owners can make money from what they own and from the work of other people.
In the article “Wealth and Want in the United States,” Parenti distinguishes employees from owners based on income. Parenti explains that owners are wealthy people who own property and earn their income through investments or the labor of others. For example, a landlord who rents out property to tenants and collects monthly rent is considered an owner. Employees are people who must work for a living and receive income through wages. For example, teachers, fast-food workers, sanitation workers, and nurses are all considered employees.
In the article “Wealth and Want in the United States,” Adam Smith writes, “labor …,” suggesting that labor is the key factor that transforms resources into valuable products. The sentence after the quote explains how a tree becomes valuable furniture through human labor, with workers first cutting the lumber and then manufacturing the product into something valuable that they can advertise and sell. Essentially, human labor is transformed into valuable products.
In the article “Class Rules Everything Around Me,” Heideman argues that “class is not an identity,” a point I agree with because other factors, such as race and gender, also play a role in someone’s identity. A person can be considered “Middle Class” due to their occupation but may still be limited in resources due to their race. Social class only places people in categories that determine how much economic power they could have in society, but due to their race, that same person can still face inequality within that same society.
My understanding of the quote “class structures are built around a close form of dependency” is that employers and workers depend on each other to meet their needs. For example, workers depend on an employer to provide job opportunities so they can earn wages to pay for food and housing, while an employer depends on a worker to perform the labor that upholds the business and generates more profit. A delivery company like FedEx is a great example of this interdependence, where employees rely on the company for paychecks while the company relies on employees to sort packages, load the truck, and deliver them within the neighborhood.
What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.
How do you understand the quote by Adam Smith on pg. 28? What is it saying about labor?
What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?
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?
