1.What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.
From reading 4.3, the distinction between business owners and employees have how the employees are utilized and are working harder. In contrast, business owners don’t work as hard as they make their employers work. For example, in reading 4.2, “Workers endure exploitation of their labor as certainly as do slaves and serfs. The slave obviously toils for the enrichment of the master and receives only a bare subsistence in return.” This demonstrates how the workers kill themselves working for the companies, while the companies make more money than the employees
2.How do you understand the quote by Adam Smith on pg? 28? What is it saying about labor?
In reading 4.3, Adam Smith states, “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. It is their real price; money is their nominal price only.”1n my understanding, I think Adam Smith is trying to say that the way people work makes the company better and more successfull
3.What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?
I do not think the class is an identity. Class is the system of dividing people into groups depending on their perceived social or economic status in society. And identity is the identity of a person or object.
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 close form of dependence is the relationship between society, capitalists, and workers are how companies and workers rely on each other. But also, companies take advantage of the workers since companies gain more money than the workers.