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Occupy Wall Street Movement - Essay Example

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This paper "Occupy Wall Street Movement" focuses on the fact that Occupy Wall Street (OWS) can be considered as a continual protest movement, which began on September 17, 2011, in Zuccotti Park located within New York city’s Wall Street financial district. …
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Occupy Wall Street Movement
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Download file to see previous pages The paper interrogates some of the lessons that Occupy Wall Street holds to the prevalent political economic climate within the U.S., and related ethical questions.

The main motivation of the protest movement revolves around issues such as social and economic inequality, greed, corruption, and excessive influence by corporations on governments, especially corporations within the financial sector. Occupy Wall Street movement slogan, we are the 99%, seeks to address the critical issue of growing income inequality and wealth distribution within the U.S (Gelder, 2011).

Income inequality can be considered to be the fundamental motivator of the protests and the bulk of social friction. Income inequality has increased steadily over the decades coupled with economic stagnation and unequal distribution of wealth, which ultimately undermine a section of the goals of the working class. Statistics indicate that approximately one in every seven (46.2 million) Americans live below the poverty line. In addition, whereas income inequality has been rising, executive pay in most large U.S. companies has quadrupled since the 1970s.

Sometimes, the media label the protest movement as anti-capitalist; nevertheless, the movement can be perceived to be an urge to restore basic capitalist principles of accountability. Critics have pointed OWS’s strong leaning towards left-wing policies; antagonism towards free-market capitalism and support for drastic redistribution of wealth, tight regulation of the private sector, and enactment of protectionist guidelines (Schechter, 2012). The core aim of OWS encompasses minimizing the influence that leading corporations have on politics. In addition, the protesters root for a better and more balanced distribution of income, as well as better jobs and bank reform.

The Occupy movement represents a massive shift in the politics of the U.S., especially in the sphere of class politics.   ...Download file to see next pagesRead More
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