- Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?
- What could be some of the implications of living in a society that has such huge wealth inequalities? Do you see this dynamic getting played out in everyday life in our society? How so? Example?
- As we learned thus far, the capitalist class consists of people who own wealth, as well as the means of production in American society. An important question in understanding how this class works is to ask: how does a capitalist remain wealthy? The answer to this question depends largely on understanding the diagram M-C-M’. So, let’s practice by explaining what happens in this diagram in our own words (but basing our ideas on Reading 5.1). Respond to the following question: Explain M-C-M’ to show how capitalists maintain and increase their wealth. (hint: your answer should weave a summary that includes what you reviewed in the self-assessment exercise question 1-7)
- Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.
- Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value? What give “value” to value, what makes something valuable?
- How are labor and value related? What’s the relationship/connection between the two?
- How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.
- Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?
- 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?
- Do you notice any similarities in the way social class is discussed in readings 4.1 and 4.2? Do you notice any differences in the way these two readings DIFFERENTIATE between social classes?
- Pick the station closest to where you live. Using the concepts from Reading 4.1, what social class tends to live in your neighborhood? Are you surprised (or not) by the answer? Do you feel it is an accurate representation of the people living in your neighborhood?
- Based on Reading 4.2, do you notice a general pattern about social classes in NYC?
