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

The difference between owners and employees that was identified in the reading is that the owners mostly live off of “investments, which include stocks, bonds, rents, mineral royalties, and other property income.” While their employees live mostly off “wages, salaries, and fees.” Another difference that was noted is the owners are wealthy because of them owning the businesses. The owners does not worker they have the employees work for them while they gain all of the money.

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

My understanding of Adam Smith’s quote is that the money price on items is not the real value but rather the item in its raw state. In the reading it talks about how trees is the important aspect. Without trees then there will be no lumberjacks, no paper, or furniture

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

I agree with the argument stated in the reading. Class is not an identity. Class like expressed in the reading is similar to ladder which a person can move up and down on. When it comes to things such as race, gender etc this what a person can not just chose to change. Like Hillary Clinton expressed breaking up with banks will not stop the racism people endure because of their actual identities such as their gender or race

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?

From my understanding of close dependency it is when someone is in direct need of someone else to provide them with necessities. An example that was explained in the reading is how a worker is dependent on their job to pay them their salary or wages.