Question 1

According to reading 4.3, owners are those individuals who lives off investments including stocks, mineral royalties, property income, rents, or bonds. This group involves rich individuals and families. Employees on the other hand represents individuals who live mostly on salaries or wages. They have to work to earn a living.

Question 2

According to Smith, there should be a decrease in profits with an increase in labor wages. The legislative need to rule in favor of employees or workers where land should be distributed equally, and taxation should be equitable.

Question 3

I’m inclined to agree that class is NOT an identity. The term should be used to refer to race or gender. In general, class should categorize as an outcome where individual’s socioeconomic status should be evaluated in terms of generated wealth, income, or education status.

Question 4

The close form of dependency refers to the quality of an individual is dependent on the government or someone else. For example,  if a particular person or the government policies influence another person, then an act of dependency exists, where one cannot survive without the other.