Affects On Business in New York City - Term Paper Example

Affects On Business in New York City Occupy Wall Street (OWS) was the movement started by Canadian Activist group on September 17, 2011 in America. The great reasons behind this movement and a protest were the issues the people were facing in their lives. The issues were directly affecting their social lives and had a great impact on political, economical and cultural conditions of the country. This movement was started in Zuccotti Park in New York City’s Wall Street which is the financial district of US. This movement initiated the protests which were led to occupy different controls and protests around the whole world. Main Reasons: The main reasons as described earlier behind this cause were the problems faced by the Americans. In America, many nations and many types of people from different corners of the world live and are the part of US of America’s financial progress. But on the other hand there are many difficulties and factors still exist which inhibit the residents to live independently and without issues. America has always been the place where issues of racism, inequality, differences of social, cultural or political exist. US residents were tired of social and economic inequality, greed corruption in the business sector and undue influence of corporation on 6their government. The main influence on the authoritative part was from the financial sector. The financial distribution in America was like 99% of society was facing inequality and unhealthy income distribution and 1% of the society was rich. It was holding on to the wealth which was the right of other 99% residents as well (Mr. Smith (2001). Now, to overcome this problem and to get rid of severe living issues the people got united under one slogan “we are 99%” and protested against the growing factors which were perilous to their living circumstances. The participants conducted assemblies which were called “General Assemblies” in which major and basic decisions were taken. Actions to be taken were planned and discussed. In these assemblies, the president and main participants of the movement decided to take over the petitions straight and to get hold of the financial situations directly by planning the major road map for this goal. The protestors were failed in the beginning and were forced to move out of the Zuccotti Park where it took place. After they left the place, they never succeeded in getting back their original place. They thrived for occupying banks, corporate headquarters, board meeting, and college and university campuses along with the Wall Street itself after their unsuccessful attempt for the achievement of their original place Zuccotti Park. Background of Wall Street: If discussed as location wise, the Wall Street district is the most stable district in its financial and transactional perspective (Langer 2010). Advanced business and building technology, latest steel and other equipment is installed there. If there requires some changing in the installed system and to be altered latest technology and expertise in the field is needed for the purpose. Most of the business financial transactions and dealings within in without the boundaries of United States of America are dealt here. The reason of unequal wealth distributions and social and political distribution emerged from here which were noticed by the protesters and starters of the Occupy Wall Street movement. All the above reasons written gave birth to a thought in people’s mind why just to live a dependent life and why not to take up the hold of the transactions and instead of being ruled why not to rule. The protestors wanted to change the factors which were affecting their social and political conditions and also wanted to mould them in accordance with their favors. If is said they achieved what they had in mind during the establishing of their goals would so not be wrong. They have had some of the failed attempts in their record but have also taken control on the banks, corporate headquarters and on to the places and buildings they wanted to occupy. They not just plan to take over their own country’s financial locations but this movement has emerged many other movements all over the world. The movement participators had marked their anniversary this year and they planned on surrounding New York Stock Exchange on marking their protest’s anniversary. Basically the protestors are protesting against the capitalist system being practiced in their economy and they have a great number of empowered politicians in their favor. Those politicians are at their back with their full support to them financially and morally. Affects of OWS: The movement of Occupy Wall Street has had also a huge number of negative impacts on the economy of United States of America. And the worst thing about the negativity of the Wall Street protest is it has affected many economies of different countries of the world too e.g, Canada Germany, France etc. the protestors aiming at achieving and establishing control over corporate profits has shutdown a shipping port in Portland on November 2011 Francis (2011). Quoting an answer from a protestor: “By shutting down work at the ports this is one more day that Goldman Sachs and Wall Street firms are unable to create profit”. The Portland blacking out was the part of a slogan of Occupy Wall Street “Shutdown Wall Street on the water front.” It was an attempt to destruct the trade and transactions at San Diego, Portland at Los Angeles, Tacoma, Oakland and Seattle. Another attempt which was made earlier than this example quoted was at the time when this movement was started at its original place. The protestors occupied Goldman Sach by giving the reason that company was paying more taxes then needed and limit is extra of actual liability. So according to their point of act they were standing against the injustice practice by the financial sector and controlling authorities. The financial sectors’ act of collecting taxes and payables were the causes of growing inequality, injustice and unhealthy wealth distribution among the people of the society. Government and authorities against this protest tried hard for the removal of protestors of this OWS movement. Police used to petrol in the streets and roads forced them to leave the places. They cleared the parks from them banned the reports and advertisements related to this act on media. These banned acts somehow lessen the attention of the supporters from the protest and hence this movement was seemed to be dead. But the recent protests and active movements clearly shows that Occupy Wall Street movement is very far from the dead, full of supporters and have a great foothold on this side of their aiming criteria. By looking at the effects of the OWC at the political conditions, the critics say, impact on politics of this movement is very minimal. According to them, there are no big politicians who are empowered, in their support. The politicians take this movement as an insane act and waste of time and resources. Instead of a tea part (a meeting between the politicians and a group of strong holding politicians) there is no other event in the record took place which could prove that any national politician has aligned with the protestors for their support. And according to Mr. Obama, the protestors are accused of hurting and endangering low and middle class’ lives and their occupation for bread and butter. Recent condition of protestors: Many articles are being written on the current state of protestors and their acts now days. Protestors are no more in the state of power. Most of them are unemployed, social and economical conditions are getting worse. They are getting involved in the stealing of ATM machines money, robbing people, victim of misunderstandings that how an economy runs etc. Bibliography Langcore Thavis and Rees Peter, . Information technology and downtown restructuring: the case of New York City’s Financial Distric. Bellwether Publishing LTD, 2010. Jackie Smith, Jackie, . Behind the Anti- Globalization Label. Markhall, 2001. San J, Faz . Can OWS effects the market Conditions. October 2011 Brooks, John et al, . Once in Golconda. Revised edition . Page 321-487 Francis, David. "the politics and economics of Occupy Wall Street." money. us news [NewYork] 12 dec 2011, n. pag Derek Aldcroft et al, . Occupy Wall Street protestors. NewYork: 2011 Read More