As a review, follow the following steps to submit your response:
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- On the right side, click on Categories: and check “Discussion 4.1”
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Respond to the following questions
- What is the distinction that Reading 4.3 makes between owners and employees? Give an example of each.
- How do you understand the quote by Adam Smith on pg. 28? What is it saying about labor?
- What are your thoughts on the main argument of Reading 4.4 that class is NOT an identity?
- 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?
1. The distinction that reading 4.3 makes between owners and employees is first, the owners are people who are extremely wealthy and mostly depend on income from investments like stocks, bonds, and other real estate. A significant shareholder of a company such as Exxon would be an example of an owner. For employees, those who are employed and receive pay in the form of fees, salaries, and wages. They include professionals, workers in factories who don’t hold ownership in their companies. An Intel factory worker is an example of an employee as mentioned in the document.
2. The quote is “labor… is alone the ultimate and real standard by which the value of
all commodities can at all times and places be estimated and compared. It is
their real price; money is their nominal price only.” This quote highlights the fact that work is the real indicator of a commodity’s value. It highlights the role that labor plays in adding value and makes the argument that the labor required to produce an item gives it its true value.
3. My thoughts are reading 4.4 makes sense that class is not just another type of identity like color or gender, it is mainly about relationships of dependent and power. It suggests that economic standing that is, whether one owns the means of production or has to sell labor determines one’s place in the class system. It highlights how patterns of power form social and economic relationships, and that this is what class is all about.
4. According to this argument, there is an dependence between capitalists and labor. Employers depend on capitalists for their jobs, and capitalists depend on employees to produce profits. Because this dependency involves direct financial connection, it is more personal than other identity-based systems. A good example of this kind of dependency is the relationship between an employer and employee in a store or somewhere, where the owner depends on the workers to make a profit and the workers depend on the owner for a living.
Kemar Nembhard
Social Class
Discussion 4.2
The message from Michael Parenti’s book discusses the dynamics of wealth and class in the United States, particularly focusing on the relationship between the owning class and the employee class. It highlights how wealth is derived from ownership of resources and assets, while the labor of employees generates wealth for others. The distinction between owners and employees is based on where their income predominantly comes from – investments or wages.
Regarding the quote by Adam Smith, it emphasizes the fundamental role of labor in determining the value of commodities. Smith argues that labor is the real measure of value for goods and services, as opposed to just monetary prices. This underscores the significance of the effort and work put into the production process.
The main argument in Reading 4.4 that class is NOT an identity challenges the notion that class defines a person’s identity or worth. Instead, it suggests that class is a result of economic relationships and power dynamics in society, rather than a fixed characteristic of individuals. This view aims to shift the focus from individual identity to broader structural inequalities and influences.
When the text mentions that “class structures are built around a close form of dependency,” it refers to the interdependence between different social classes within the economic system. For example, the wealthy owning class relies on the labor of the employee class to generate profits and maintain their wealth. This dependency creates a hierarchical relationship where one class benefits from the work of another, reinforcing the existing power dynamics in society.
Hello Kemar,
I love the fact that your response to the post was direct, brief, and informative. In your opinion how do you put a price on labor and if you can put a physical price on it, what do you consider the determining factors? You mentioned the suggestion that class is a result of power dynamics and economic relationships, would you be able to provide an example to help me better understand your view. I agree with your analysis of the interdependent relationship between the laboring and owning classes, however I do believe that this relationship became apparent due to the creation of the dollar, inflation with societal and technological advancements and so forth. Moreover, during the predated times in American society barter was sustainable enough for our early society to grow so what stops us from doing that now. I do not approve of the idea of labor and the monetary value being decided by individuals who have not or do not “know an honest day of laborious work.” What do you think about your value being determined by this?
1.) The difference is that owners are the ones who rely on their investments, stocks, & bonds to continuously produce their wealth. They also use the hard work & labor of others to contribute to their wealth as well. Hence, the “WORKING” class. They have control and resources over production & businesses.
Elon Musk is an appropriate representation of an owner, who utilizes his investments and the dedicated hard work of others to build up his conglomerate, Tesla. Employees would be the said laborers’ whose hard work is being used by the owner for their profits, while the employee is stuck to a fixed pay regardless of how much work they provide.
2.) Adam Smith’s quote discusses the nature of labor and its contribution to production. The quote emphasizes that labor is the core and source of value in the economy. Labor is what places value on goods and services i.e. Acai, “Blood” diamonds, & even avocados. Along with labor comes the owner, who owns the means of production AND also sells their labor.
3.) I believe class IS an identity. Our class determines the type of access to resources we have. It’s the difference between growing up in a good neighborhood with good schools, to an impoverished one where the likelihood of graduating college is low. Class is also a global concept. For instance, in India, they have the Caste System. This is broken down into more tiers than just how we Americans value class. You are known for only working specific jobs throughout your lineage, and you can’t marry outside of your class & it is all about perception, thus leading to the social identity you’re given. Whether it is intentional or not.
4.) The dependency is the relationship or the dependency between owners (capitalists) & employees (workers). Capitalists depend on workers for the means of production of goods and services, while workers depend on the owners for their income and wages. & employment. During the 2022 World Cup, many immigrants migrated to Qatar to work. These people were subjected to living within housing that ONLY the working poor were allowed to live in. They weren’t allowed to get housing anywhere else, and they were transported back and forth from work. These workers were in a new country and had no choice but to accept these conditions just to provide for their family back home. The owners of these businesses relied on these workers for the influx of potential business and profits from the world cup.
Good examples