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

One distinction is that there are people who are wealthy thus being the owner  whereas there are people who must work for a living thus being the employees. These extremely wealthy people live off said stocks, bonds, and investments and their employees live off salaries and wages. Like said in the article, “The distinction between owners and employees is blurred somewhat by the range of incomes within both classes.” (Parenti 29).

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

I believe Adam Smith is saying in order to have money, one must work for it. He mentioned a ‘real price’ and a ‘normal price’, by this I think he means that the real price is a metaphor , similar to the one “ paying the price” to which one has to sacrifice a lot in order to make a “normal “ amount of money hence the “ normal price”.

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

I don’t agree. I do believe that your social class is an identity. Your social class is a part of you. For starters, you yourself are the one working, going to work and making an income. So therefore, you are adding a modification to yourself, this modification being your income. Income defines one quite easily as well. If you’re making under 19k, you’re lower class and if you make under 29k you’re part of the working class etc..In all, your class is a part of you and is an important part of you to maintain.

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?