1. The distinction that 4.3 makes between owners and employees is that the range of incomes between both classes makes this distinction. To be considered an “owner” in this term refers to the wealthy stockholders of big corporations. An example of the owner would be seen as folks that live off investments, which can include stocks and bonds. The employees in regards to this are those that live off their wages, salaries and fees. So someone at the management level or below a management position would be considered in this title. 
  2. Adam Smith quote to me means labor is the value of any product or service that you’re paying for. If you want to place an order for a product or service that is being done it all equals money. What makes something become a profit is that you are taking the time to put work for the product or service. You then may be manufacturing, shipping, advertising and selling products. I believe that he is saying that the labor that you are doing will turn into a profit. 
  3. I believe that the statement that class is not an identity. I believe this statement to be false because there is more to say to this argument. Paul Heidman argues that its class is like an identity in regards to race or gender and that socialist believe that it’s the most important identity. They are not rejecting the idea but instead they are promoting their favored version of what it means. 
  4. I understand this to mean that there are two parts to understanding what it means to be class structure in different forms of hierarchy. The first part talks about class structures that are built around close forms of dependencies. The second part to this is off the basis of capitalist class power. They have control over their society’s productive assets which forces all of society into dependency at once. An example of this is a worker is always in a position of having their interest at least threatened by employers’ capitalist views. 

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