1. What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.

According to the reading 4.3 owners are the wealthy people who own companies, buildings or any other property and they gain their living from the investment of those properties. While employees are the people who obtain their living from hard working. The income’s range distinguish between those two classes. Whereas owners represent both large companies and small business. Large companies are dominant which makes the small stores less valued resulting them to be vanished from the market. On the other hand, employees represent all working class including those who work in great position and strive to manage companies enhancing its income. Those workers could achieve a certain classification in terms of social class through their performance and gaining higher income which permit them to investing their income and thus having the opportunity to be classified as owners.

2. How do you understand the quote by Adam Smith on pg. 28? What is it saying about labor?

  The reading 4.3 highlighted the quote noted by Adam Smith, one of the founding theorists of capitalism, in 1776 “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.” It is understandable from this quote that money is not the real value that of product because labor is eventually the real standard to determine that value. In other words, labor contribute extremely to regulate the value of products because of the effort and time they devoting to accomplish the work. Therefore, labor play a great role in strengthening the companies’ incomes and thus the economy. 

3. What are yur thoughts on the main argument of Reading 4.4 that class is NOT an identity?

According to the reading 4.4 socialist and liberals have different views for class. While socialist believe that class is a hierarchy of numbers determined by wealth/income, education, gender or/and race, socialist believes that class determined by two important forms which are capitals and working class. In the point of view od socialist class is more than another identity since capitalist are considered the power in the society and they forces every ones to be under their control because in their turn, they are depend on workers which could weaken their position as source of power.   

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?

the reading 4.4 illustrates the dependent relationship between the two classes (capitals and workers) stating, “class structures are built around a close form of dependency” (5). On my understanding this statement reveals the two structures of class including capitals and workers which are depending on each other to maintain their position and increases their interest. While capitals always need workers to promoting their profit, workers are always seeking to present a great performance to keep their jobs in a capitals’ companies which increases their interest to living. In other words, we could say that each structures represent the power of the other it is an integral relationship.