Reading 4.3, the distinctions between owners and employees is made around their roles in the economic system and the resulting disparities in wealth and power. Starting off with who they are, owners are People or companies that have businesses or assets. They make money from profits and investments. On the other hand employees are People who work for others and get paid a salary or wage. They sell their time and skills. There is also a distinction between owners and employees when it comes to their power in the economy. Owners Have a lot of control over business decisions and can influence the market. Their wealth lets them shape economic conditions. Employees Have less control and influence.
Their job security and income depend on their employer’s decisions.

The quote by Adam Smith emphasizes that labor or the work that people do is the only true way to determine the value of something, it’s not about how much people are willing to spend. The effort, time, and tools used is more meaningful than the price. Smith makes it clear that the value of  items can be compared through the labor put into making them rather than the price.

Reading the article I can see why Heidman thinks social class isn’t an identity for several reasons. One of the reasons being, class can change over time. Heidman states that class can change over time due to things like job opportunities and education. Therefore class isn’t a permanent identity.

In the article, a close form of dependency is referred to because people’s social classes are intertwined and rely on each other in many different ways. An example of this would be a school setting. Schools get money from local taxes, often based on wealthier neighborhoods. If those areas have financial problems, the school might lose funding, which can lead to lower pay for teachers and fewer resources for students.