1.) Reading 4.3 introduces the idea of “owners” and “employees” in an attempt to understand the concept of “social class.” Basically, it serves the purpose of knowing that they are two social classes that differ from each other because of how much income they make and the effort needed in order to obtain it. Owners are considered to be the wealthy while the employees are poor or struggling individuals trying to make ends meet. For example, according to paragraph 1 of page 29 it states, “The very rich families and individuals who compose the owning class live mostly off investments, which include stocks, bonds,
rents, mineral royalties, and other property income.” This quote from the text not only allows an understanding for the owning class to be comprised of the wealthy but how they are able to make their wealth is what aids in their success. Stocks, bonds, rents, etc… are all but a few ways in how someone can earn income without the hassle of working very hard. On the other hand, there are “employees” who make their money as well but from little income and hard work. For example, according to paragraph 1 of page 29 states, “Their employees live mostly off wages, salaries, and fees.” This quote from the text is an ideal summarization of what people in this class live off and why they are not as wealthy. These people practically live off of what they work, if they don’t work there is no pay. They aren’t like the owners who are able to have income come to them passively. Not to mention, they work for the owners and the owners do not pay them enough considering the amount of labor they do.

2.) Adam Smith’s quote on page 28 spoke about labor from a different standpoint. From my understanding, he is trying to say that considering the world we live in there is no such thing as labor being the same. So, considering the amount of hours it takes for an object to be produced is a lot. It would obviously be a lot but the product does not tell the consumer how much effort went into such a process. Although there are labors that require an immense amount of skill more than others, there is no real way in measuring the labor went into creating something. Also, the money that is paid to have the product does compensate for the amount of effort that was put into it.

3.) Reading 4.4 created the argument that “class is not an identity.” This meant that despite various people across the country saying that social class exists because we have the wealthy and poor, it is simply not the way we should be looking at it. “Workers” or those who are considered to be poor and work for low income actually have just as much power compared to the “capitalists.” They practically need each other, one cannot thrive without the other. Capitalists need workers for their cooperation in order to get the necessary labor done. Not to mention, any wrong moves that the capitalist makes can instantly ruin their business. With workers, they need to work in order to make that paycheck but they can either be a “good worker” and do as their told or express themselves and possibly aid their overseer so that business can continue running smoothly. One cannot operate without the other and so, people need each other in order to thrive in this society.

4.) When Reading 4.4 makes the argument that “class structures are built around a close form of dependency,” I believe that they are referring to the relationship of capitalists and workers needing each other. Their businesses cannot thrive without if they have no workers to produce labor. An example I can think of is, let’s say a popular gaming franchise is worth billions. They are known for creating various titles but there is one in particular that sparked public interests for years. The next installment is coming and it’s lead developer suddenly leaves with a couple of game designers and mechanics. Not only are the people who created the infamous installments from the past have left. It will create a uncertain future for the next one. Everyone has different visions for ideas and despite having a new group of workers, the new installment can make or break the company, it’s reputation, and cause a stir for both the workers and the company.