- The reading 4.3 makes it clear how owners and employees are different due to where each came from. What that being said, the distinction between owners and workers is blurred somewhat by the range of incomes within both classes.
- Owners have both the fabulously wealthy stockholders of giant corporations and the struggling proprietors of small stores.
- To become a member of the owning class, you must have the income large and it should come from the labor of other people.
- Owners have the secret of having great wealth is not to work hard but to have others work for you. The rich and wealthy people have enough money so they can spend it as they wish.
- Owners can amass considerable fortunes.
As for employees, they include professionals and managers who in income, education, and lifestyle tend to be identified as “middle” or “upper-middle” class. The workers’ wages represent only a portion of the wealth created by their labor. They endure an exploitation of their labor as certainly as do slaves and serfs. Workers, the only reason they are hired is to pleased the owners. It also benefits the owner so they can earn the money. An example of owners and workers is the Starbucks baristas and the overall company.
2. I understand the quote, “labor… is alone the ultimate and real standard by with 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.” Adam Smith is trying to state how labor contains for everyone in the world, a value that’s worth a lot. Money is what many people use nowadays to live and labor is going to seen in different ways.
3. Class is NOT an identity, nobody should be based on what their or family’s income is or was. It describes nothing of each other’s identity. Like in the driver licenses’ there’s no such thing were social class is written because it has nothing to do with us, people. I agree deeply with the statement because everyone came from different families and they tend to show a lot of love and trust but not income.
4. I understand the argument Reading 4.4 makes when “class structures are built around a close form of dependency.” It come across between the capitalist class and working class, they both tie together to be a form of dependency because one depends of one another. It states on page 5, “just the concept of “worker” that is dependent on the concept of capitalist for meaning. It’s that to be a worker means, necessarily, to be dependent on a capitalist or firm for a job.” An example will be the two countries that happen to be allies. One of the countries might be struggling so the country tries to look for a solution and see if the neighbor country could provide help.