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

Reading 1 dissects the advantages of the “Owning” class and its dependency on the “Employee” class. There are about three distinctions made that define the differences between these classes. The owning classes live their life off of investments which include “owning stock, bonds, rents, mineral royalties, and other property income”. The employee class lives their life off “wages, salaries, and fees”. Those who are part of the owning class make an income off the labor of other people whilst the employee class makes their money by selling their labor. Though the owning class has to compete with others who own businesses or property it is a different type of competition than those in the employee class who aren’t 100% guaranteed a position as they have to compete with others for jobs and their salary can be broken down by state minimum wage and experience. As mentioned in the reading, only two hours of a private-sector employee is “for herself or himself, and six or more hours are for the boss.” Not including the surplus value for that labor which is measured as “less than a fourth of the market value created by their labor”. It is also mentioned that those in the owning class are only troubled with “exploiting labor and (accumulating more) capital.

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

The amount of labor that occurs for a product to be sold can be measured the product itself cannot. Smith’s quote highlights how much physical expense the worker has while the product it produces only exists because of it. It demonstrates the need of the worker’s presence and how it is essential for the production. Labor is far more valuable than the product itself.

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

I agree with the author’s argument on a socialist bias. I do not believe that the drastic difference between classes is so easily resolved. The first reading goes into detail about the harsh differences in the lives of the upper, middle, and lower class and how each contribute and functions in a capitalist society. This information is important but it does not provide evidence as to what a socialist society would entail, what is needed to deconstruct a capitalist system and the drastic difference between capitalists and workers. Heidman(4.2) reveals the effect and power of capitalism on both an economic and political scale. Economically capitalists rule the economy and are given two tasks create work and create consumers. Workers receive money to consume and consumers spend the money they have worked for all whilst remaining in the same position. In this capitalist system, the only beneficiaries who experience exponential growth are capitalists or “Owners”. Politically capitalists influence the social stance of minorities. In order to “tackle the racial wealth gap” and the difference in “educational experience” money distribution and investment is needed(4.2;7/12). Capitalists also affect gender inequality, roles and wage gap as “the workplace is a site of gender hierarchies where managers and bosses can use their power to sexually harass and abuse”; “employers penalizing women for having children and caring for them”; “employers (must) offer parental leave to both parents, so that women aren’t the default caregivers suffering the consequent career penalties”.- These are all citations from the second reading that provide verification of how capitalism societies on a political and social level, none of which were made in the first reading. As mentioned, though it is important to know the distinctions between the “Owning” and “Employed” classes, it is ever more important to understand the deep roots the owning class has in society and how they are able to rule, flourish, and live differently than others.

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?

In order for capitalist to grow they depend on the labor of their worker, for a worker to live they depend on capitalists to exist. The entire formation of social classes is based on the capitalist system. In order for the upper class to survive it needs the lower class and middle class to use as workers. An example of this would be construction workers. In order for a city to have residents who contribute to its economy, it needs buildings with tenats who pay rent. In order for buildings to exist it needs the construction workers to build these buildings. The construction workers need bosses, and those bosses need clients.