1. The distinction reading 4.3 makes between owners and employees is that owners live off mostly investments. This includes stocks, bonds, rents mineral royalties and other property incomes. Employees live mostly off wages, salaries and fees. The employee most work for their pay while the owner has people work to make him money.
  2. The quote by Adam Smith is saying that labor is the ultimate value decider. That labor predicts and controls the cost of everything and that labor is the true value of something. Money is just the value placed on something second to the cost of labor.
  3. My thoughts on the main argument in reading 4.4 that class is not an identity is that I believe it is an identity. There are tons of people who identify by the area they live in and the money they make, these both being connected to ones class. Many different races and other groups of people who would not normally get along if in the same class are now acceptant of one another.
  4. Class structures being built around a close form of dependency is the authors way of saying that one class would not exist without the other. For example the working class could not exist without the Capitalist class. The working class relies on the Capitalist for employment and money to purchase basic life necessities. On the other side of the dependence is the Capitalist depending on the working class. Without the working class Capitalist would not be able to be Capitalist, they rely on workers to provide labor and make them money.

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