- What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.
The distinction between owners and employees is that owners are who own wealth and their profit comes from the labor of other people to exploit the most of the value from employees’ surplus labor, but employees are who have to be forced to sell their labor and time for a living. According to the reading 4.3 the author Michael Parenti clearly exhibits the distinction between owner and employee. For example, Owners not only exploit the value from their employees, but also live mostly off investments, such as stocks, bonds, rents and mineral royalties. No wonder they can own most of the wealth in the society. Parenti explains that “The secret to great wealth is not to work hard but to have others work hard for you.” The panic part is the owner’s portion taken from employees which is not visible. End up the owners become wealthier. However, the employees are paid not the equal value they create, because the most portion value is taken to the owners. So the employees have to contribute more in exchange for a little compensation to support their living.
2.How do you understand the quote by Adam Smith on pg. 28? What is it saying about labor?
Adam Smith explains that only the labor produced can determine the relative value of commodities in his labor quote. But money is the nominal price of commodities. I agree with his point of view about the value of labor. I am also grateful for his voice and opinion for the working classes, because most people are working for living, not because they lack knowledge, talents, dedication and experience, but because of the unequal social rule and opportunity. Labor is the real price of commodities. The author gives an example about what transforms a tree into valuable furniture through workers’ designs it’s measurement, style and manufacturing, marketing and commodity promotion and so on and so forth. Without workers a tree could not transform by itself, and can’t create any profit to anyone except by the labor of workers.
3. What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?
My view to the main argument of reading 4.4 is that class refers to a socioeconomic status, also class is not an identity because class presents a social economic status, being classified in upper, middle or lower depends on many aspect factors, such as, ownership, property, reputation and power. but identity simply represents gender, race etc.
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?
According to the reading, the concept of the class structure depends on a particularly close form of interdependence, and the relationship between capitalists and workers seemingly are opposed. One is the exploiter and the other is the exploited. Capitalists hire workers, and workers sell labor and time to create surplus value for capitalists. The capitalist is the controller and production tool of production resources, the capitalist is the master of the machine, and the worker is the part of the machine, which is replaced when it is broken. However, Capitalists also depend on workers to produce surplus value for them.
