Occupy Wall Street Movement - Assignment Example

 Occupy Wall Street Movement Introduction ‘Occupy Wall Street’ movement is fundamentally regarded as a protest or rebel movement that commenced in the year 2011 in one of the parks in New York, United States named Zuccotti Park. It has been apparently observed that the protests relating to this particular movement is primarily based upon various significant issues. The issues include corruption, financial disparity, income discrepancy and inappropriate wealth distribution. Moreover, the other key issues comprise governments’ role concerning the handling process in relation to worldwide financial crisis and most significantly determining the function of corporate money especially in the political system of the US. Thus, it can broadly be stated that all the aforementioned issues ultimately paved the way towards the emergence of this particular movement (Kim, 2011). The paper intends to analyze the moral as well as the economic implications involved in the movement. Various aspects such as the analysis of the identified implications against the Kantian, utilitarian as well as virtue ethics and the determination of the individuals or entities liable for income disparity along with inappropriate wealth distribution particularly in the US will be taken into concern. Besides, a suggestion regarding an equitable outcome from the movement that would be appropriate for capitalistic society and the prediction concerning whether the movement will continue, fad away or turn into another perspective will also be discussed in the paper. Moral and Economic Implications Involved in the Movement The mortal implications that have been involved in the movement i.e. Occupy Wall Street movement contain numerous important aspects that include the contemplation of individual responsibility instead of moral responsibility and predominance of self-interest. With regard to the moral implications, the movement has been viewed to remain significantly focused upon determining the role of hierarchical authorities that is based upon wealth or different sources of power. In accordance with the viewpoints of the protestors of the movement, the role of any government is to safeguard as well as to empower every citizen of a nation through enhancing different avenues of growth. In this similar context, the areas include health as well as education, transportation, public infrastructure, trade policies, art and culture, scientific research, public lands and resources. It has been viewed that the movement relating to moral implications has been based upon certain moral guidelines. The guidelines comprise global citizenship, democracy and deliverance of strong wages to the workers belonging to any nation. From the viewpoint of the moral principle of democracy, the protestors of the movement raised a strong voice favoring 99% democracy i.e. supporting public-supported decisions. In relation to moral guideline of global citizenship, the protestors of the movement emphasized upon determining governments’ role in transforming every citizen of a nation in a global one. Finally, in terms of offering strong wages to the workers of any nation, the protestors of the movement focused upon the reality that the workers must be provided with strong wages by which their living standards can be raised considerably (Lakoff, n.d.). The economic implications that have been engaged in Occupy Wall Street movement were typically based upon certain financial aspects that comprise budget austerity, large deficits as well as debts. According to the protestors, these crucial aspects along with the factors like income stagnation, limitation of spending power of the societal members and increasing unemployment have ultimately affected the economy by a greater extent. In this connection, it has been noted that the major economic implication involved in the movement or the leading financial factor driving the movement is youth unemployment. According to the reports published by the US Census Bureau, the rate of youth employment has been identified to be quite low i.e. nearly 15% which eventually imposes significant impact upon the economy by a considerable level (Alessi, 2011). Ethical Perspectives Involved in the Movement Ethical perspectives or theories are generally viewed to be much critical for the individuals as well as the organizations as they help to identify a specific problem, compel to act systematically and most importantly enable to make effective decisions. In this similar concern, there exist various major ethical theories that include utilitarian, virtue ethics and Kantian. The idea of utilitarian ethical perspective focuses upon the consequences rather than implementing any sort of rule. According to this ethical perspective, the moral principles must be valued as well as evaluated in order to provide benefits to the individuals or people to mitigate various critical issues like inappropriate wealth distribution and decreased employment level among others. Thus, it can be affirmed that the utilitarian ethical perspective is principally based upon guiding different moral principles by focusing upon the results instead of imposing any rules. Conversely, the Kantian ethical perspective signifies that the deliverance of moral laws that are principally based upon universal ethical guidelines is determined by evaluating individual situations or culture. It has been viewed that the Kantian ethical theory focuses upon fulfilling duties by imposing different sets of rules rather than emphasizing upon results. Thus, it can be stated that the Kantian ethical perspective is action oriented instead of result oriented (Spencer, n.d.). On the other hand, virtue ethics is quite dissimilar from utilitarian and Kantian ethical perspectives. In this regard, the theory of virtue ethics stresses upon advancing the character of the individuals so that they can perform well in future. This ethical theory i.e. virtue ethics does not deliver principles for judging a particular act whether it is proper or improper. It pays utmost attention to develop the different character traits of an individual that encompass justice, kindness, courage, generosity and temperance. The ethical perspective of virtue ethics has been viewed to pay less attention or focus upon imposing rules that need to be followed by the individuals while developing their different character traits (Spencer, n.d.). After acquiring a brief idea about the aforementioned ethical perspectives, it is to be stated that the utilitarian ethical theory can be best applied to Occupy Wall Street movement by a certain extent. This can be better explained by taking into concern certain examples or evidences. As the utilitarian ethical theory is result oriented rather than focusing on imposition of rules, it has been apparently observed in this context that the protestors of the movement conducted a sequence of nationwide protests in demand of corporate change. The protestors carried out nationwide protests after experiencing the results that led towards extensive corporate delinquency. This can be regarded as a perfect instance concerning the relevance as well as the application of utilitarian ethical perspective to the movement. The protestors of the movement remained much focused upon the results in terms of strongly protesting for the motive of uplifting the financial position as well as ensuring appropriate wealth distribution by a significant level. Collectively, it can be affirmed that the utilitarian ethical perspective can be best applied to the movement as the movement has been outlined with moral principles that endeavor to provide substantial benefits to every individual in the American society (Anderson School of Management, 2011). Determination of Responsible Authorities for Income Inequality and Wealth Distribution in the US The protestors of the movement greatly blamed Corporate America for the creation of financial difficulties that are largely affecting the economy of the nation by a considerable level. Moreover, the protestors viewed Corporate America to be accountable for raising income unfairness as well as inappropriate wealth distribution especially in the US. The rationale behind this perception of the protestors is built up over time that can be justified with reference to the fact that the big US corporations are increasingly accepting bailouts and providing their executives with lofty bonuses. According to the protestors, these particular practices are eventually leading towards generating income inequity, financial deficits as well as austerity and inappropriate distribution of wealth by a greater extent that have compelled the protestors to perform a series of countrywide protests in demand of corporate change (Anderson School of Management, 2011). Thus, on the basis of the above discussion, it can be affirmed that the Corporate America or the large corporations of the US are liable for generating income inequality as well as unsuitable wealth distribution in the US at large. Equitable Outcome from the Movement The results of the movement would be quite beneficial for every individual member of the American society and will be quite appropriate for the capitalistic society of America. This is owing to the reason that the movement emphasizes upon several significant aspects that include corruption, social inequity and financial disparity among others that would eventually raise the concern of the federal government of the US. One of the vital outcomes of the movement can be the increased level of governmental participation regarding passing various legal regulations concerning various financial aspects like borrowing of loans and offering of bonuses among others (Anderson School of Management, 2011). Prediction After acquiring a brief idea about various facets of the movement, it can be stated that the movement might continue in future. The rationale of this response is that a significant portion of people have supported the movement and desire to ascertain corporate change by eradicating all difficulties. Conclusion The various significant issues like unemployment, financial austerity and social unfairness have been inducted in the Occupy Wall Street movement that ultimately have raised its significance and it is expected that the movement will continue in future. The utilitarian ethical perspective can be better applied to the movement as it focuses upon the results instead of imposing different sets of rules. According to the protestors, the big corporations of the US or the Corporate America are liable to generate income inequity and incongruous wealth distribution in the US. Contextually, a profitable outcome can be expected from the movement that might facilitate to resolve the issues and make meaningful changes in the attitude of the corporate in the nation. References Alessi, C. (2011). Weighing Occupy Wall Street's impact. Campaign, 2012. Anderson School of Management. (2011). The Occupy Wall Street Movement. Debate. Kim, R. (2011). The audacity of Occupy Wall Street. The Nation. Lakoff, G. (n.d.). Publicize the public. OccupyWriters. Spencer, D. (n.d.). Utilitarianism. Three Ethical Perspectives. Read More