1.based on the range of income for both types of people, they are muddled. For instance, the CEO of a small business typically earns less than an employee of a larger company.

2.My interpretation of Adam Smith’s quotation is that labor, in a sense, propels the world. No business or corporation in the world can do anything without the labor force—its employees—who will not only develop the design and concepts but also produce the good or service. A. Smith claims that“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 (pg. 28)”,which, in essence, means that the labor of the worker and the work they put into producing something is what gives the finished good its value and what, in turn, can make the worker a valuable asset.

3.I agree that class is not an identity, but I detest to say that we live in a culture where your name determines who you are and where you may go thanks to your wealth.

4.I believe it is referring to dependency theory, which in my understanding is a Marxist phrase for non-trickle down economics, but I am less certain of my grasp of this than I am of the other topics. In other words, the rich are dependent on the poor since they are the ones who implement social policies and industries in their countries, and the poor are dependent on the rich because wealth flows from the perimeter of society (the poor) into the centre of society (the bourgeoisie).