1. In reading 4.3, Parenti explains that the main distinction between owners and employees is their relationship to capital. Owners control businesses, property or large amounts of wealth and make profit from their employee’s labor. On the other hand employees do not own the business or capital but instead they sell their labor in exchange for wages and depend on their employer for income. For example, the owners or the major shareholders of big companies like Starbucks earn money from the company’s profits. A Starbucks barista, however, earns hourly pay by working and does not own the business. So, the main difference is that owners make income from capital, while employees depend on wages.
  2. The quote by Adam Smith suggests that labor is the real source of wealth in society. Workers are the ones who actually produce goods and provide services, which creates economic value. However, even though labor creates that value, workers do not control the profits. Instead, owners of capital benefit the most. I understand this quote as highlighting an imbalance: labor is necessary for wealth to exist, but workers depend on employers for wages and do not receive the full value of what they produce. This connects to Parenti’s argument that class is about who controls capital and who must sell their labor to survive.
  3. In Reading 4.4, the main argument is that class is not an identity in the same way race or gender is. I understand this to mean that class is more about someone’s economic position in society rather than how they personally identify. For example, someone may identify strongly with their culture or race, but their class position depends on whether they own capital or work for wages.I think this argument makes sense because class is based on economic relationships and power, not just personal identity. At the same time, I also think class can feel like part of someone’s identity because it shapes their daily life, opportunities, and experiences. In NYC especially, your economic position affects where you live, where you work, and what access you have. So while class may not be an identity category in the same way race or gender is, it still deeply influences how people experience society.
  4. In Reading 4.4, when it says that “class structures are built around a close form of dependency,” I understand this to mean that different classes depend on each other economically, but not equally. Workers depend on employers for wages in order to survive, while employers depend on workers to produce goods and services. However, this dependency is not balanced because owners have more power and control. The “close form of dependency” is mainly the relationship between labor and capital. For example, a restaurant worker depends on the company for a paycheck, but the restaurant also depends on workers to operate and generate profit. Even though both sides depend on each other, the owner has more control over wages, hiring, and decisions. This shows how class is structured around economic relationships, not just identity or lifestyle.

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