1. What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.From Reading 4.3, I learned that the main difference between owners and employees is where their income comes from. Owners make most of their money from things they own, such as businesses, investments, stocks, or property, while employees make their money by working and earning wages or salaries. Before reading this, I mostly thought of owners as just people who run businesses, but the reading helped me understand that ownership is more about earning income from the labor and production of others.An example of an owner would be someone who owns a corporation and receives profits from it. An example of an employee would be a teacher, nurse, or retail worker who depends on a paycheck from their job.2. How do you understand the quote by Adam Smith on page 28? What is it saying about labor?I understand Adam Smith’s quote as saying that labor is what creates value. The reading helped me see that products do not become valuable on their own. People have to work to create, produce, transport, and sell them. Even something as simple as a piece of furniture starts as a tree, and many workers are involved before it becomes something that can be sold.I have gained a deeper understanding that labor is the foundation of wealth because without workers there would be no goods or services. The quote seems to suggest that labor is the real source of value, while money is simply a way of measuring that value.3. What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?I have gained a deeper understanding of why the author argues that class is not just an identity. At first, it can seem similar to other identities because people often describe themselves as working class, middle class, or upper class. However, the reading explains that class is more about a person’s relationship to work, ownership, and power in society than about how they identify themselves.What stood out to me was the idea that workers and owners have different positions within society that affect their interests and opportunities. Because of this, the author argues that class is a social structure rather than simply an identity. While I still think people can identify with their class, I understand why the reading says class is more than just a label.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?

I understand this argument as meaning that workers and employers rely on each other in a direct way. Workers depend on employers for jobs and income, while employers depend on workers to do the labor that keeps the business operating and profitable. The reading helped me see that this relationship creates a close form of dependency because neither side can completely function without the other.A good example would be a grocery store. Employees depend on the store for their paychecks, but the store owner also depends on the employees to stock shelves, assist customers, and keep the store running. If workers stopped working, the business would struggle to operate. This example helped me better understand what the reading means by dependency between workers and employers.