- In reading 4.3 it explains that the main difference between owners and employees is how they make their income. Owners live mostly off investments and profits that come from other people’s labor, while employees live off wages and salaries they earn from working. Basically, owners make money because others work for them, and employees make money by selling their labor. An example of an owner would be someone who owns a corporation and earns profit from stocks or business revenue. An example of an employee would be a factory worker, teacher, or even a manager who earns a paycheck.
- The Adam Smith quote is saying that labor is what actually gives things value, not money itself. In other words, products are worth something because of the work that goes into making them. Money is just a way to measure value, but the actual source of value is human labor. I understand it as saying that without having workers, nothing would ever get produced meaning labor is the foundation of wealth.
- I think the reading makes a strong point that class isn’t just an identity like race or gender, even though it can feel like one sometimes. The article explains that liberals see class as just “socioeconomic status,” a ranking system, but socialists see it as a structure of power. This is meaning that class isn’t only about how much money you make, it’s also about if you have your own productive property or you’re selling your own labor to survive. Regardless I do agree because it shows that class affects how society is organized, not just how someone identifies themselves.
- When the reading says class structures are built around a close form of dependency, it means workers and capitalists depend on each other in a very direct way. Workers depend on employers for jobs and income, but employers also depend on workers to make profits. That’s what’s called close dependency. An example would be construction work. Workers need the job to survive but if they decide they want to go on strike then the company can’t function or make money. Both sides rely on each other, which creates conflict and potential power for workers if they organize.
One thought on “DB 4.2-Kayla Chisholm”
Leave a Reply
You must be logged in to post a comment.
I really like how you explained the difference between owners and employees. You did a great job showing that while owners make money from investments and profits, employees earn money by selling their labor. Your explanation of Adam Smith’s quote about labor giving things value is also really clear. It’s true that without workers, nothing would be produced, which shows how labor is the foundation of wealth. I agree with your take on the reading about class not just being an identity but a structure of power. Class affects how society functions, not just how someone identifies. The example you gave of construction workers and the close dependency between workers and employers is perfect. It shows how both sides rely on each other and how workers can use that power when organized.