1. The distinction that Reading 4.3 makes between owners and employees is that the owning class lives off stocks, bonds, rents, mineral royalties and other property incomes. Employees live off wages, salaries, and fees. Basically, “owners refer to giant corporations while employees are the workers. McDonalds, for example, is considered an owner while the employees, such as the cashier or cook, are the workers who depend on the salary while also keeping the value of the business.
  2. Smith believed the real value of anything comes from the work put into making it. It’s not about how much money something costs, but the effort and labor involved in its creation. The example he gives is how a tree transformed into furniture or paper gains its value not from its raw material, but from the effort invested. From the timber harvesting, the manufacturing process, and even the advertising used to sell it, the labor involved dictates its true price.
  3. When we let social class define us, it can be a heavy chain that limits our potential. Reading 4.4 suggests that class shouldn’t be tied to our identity, and I agree. If we separate social class from who we are, we open up space to thrive, regardless of our financial situation. This way, our true worth and identity aren’t defined by something that’s often beyond our control.
  4. In this argument, it suggests that in a capitalist system, class structures are built around a close form of dependency, where the working class and the owning class, or the capitalist class, are heavily reliant on each other for economic and social survival. This close form of dependency refers to the fact that the working class, consisting of workers and employees, heavily relies on the owning class for their livelihood, job security, and economic well-being. The first example that came to me was Amazon. Customers rely on their platform for convenient shopping, and workers (customer service, packers, drivers, etc.) heavily depend on Amazon for their jobs and income. Meanwhile, Jeff Bezos and shareholders reap profits without directly participating in production.

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