Occupy Wall Street

Definition

Occupy Wall Street was a social movement that began in 2011, protesting economic inequality, corporate greed, and the influence of money in politics. It started with an encampment in Zuccotti Park in New York City's financial district and quickly spread to other cities around the world, giving voice to the concerns of the '99%' against the perceived dominance of the '1%'.

5 Must Know Facts For Your Next Test

1. Occupy Wall Street was a decentralized social movement that emerged in response to the 2008 financial crisis and the perceived unfair economic policies that favored the wealthy elite.
2. The movement's slogan, 'We are the 99%,' was a symbolic representation of the vast majority of the population struggling economically while a small percentage (the '1%') held a disproportionate amount of wealth and power.
3. Protesters criticized the influence of money in politics, arguing that corporations and the wealthy elite had undue sway over government policies and decision-making, often at the expense of the broader population.
4. The Occupy movement's tactics included setting up encampments in public spaces, organizing marches and demonstrations, and using social media to spread their message and coordinate actions.
5. While the Occupy movement did not achieve specific policy changes, it succeeded in raising awareness about income inequality and the perceived imbalance of power between the wealthy and the rest of society.

Review Questions

• Explain how the Occupy Wall Street movement was a response to income inequalities in the United States.
  • The Occupy Wall Street movement was a direct response to the growing income inequality in the United States, where a small percentage of the population (the '1%') held a disproportionately large share of the nation's wealth and income, while the vast majority of the population (the '99%') struggled economically. The movement's slogan, 'We are the 99%,' was a symbolic representation of this disparity, and the protesters argued that the political and economic system was rigged in favor of the wealthy elite, often at the expense of the broader population. By drawing attention to these issues, the Occupy movement sought to challenge the status quo and advocate for policies that would address the growing wealth gap and provide more equitable economic opportunities for all.
• Analyze how the Occupy Wall Street movement's tactics and strategies were aimed at influencing corporate and political power structures.
  • The Occupy Wall Street movement employed a variety of tactics and strategies to challenge the perceived influence of money in politics and the power of corporations. By setting up encampments in public spaces, such as Zuccotti Park in New York City, the protesters sought to physically occupy and disrupt the financial district, which was seen as the epicenter of corporate power and influence. Additionally, the movement organized marches, demonstrations, and used social media to spread their message and coordinate actions, with the goal of raising awareness about the imbalance of power between the wealthy elite and the broader population. The movement's criticism of corporate personhood and the role of money in politics was aimed at challenging the political and economic structures that were seen as favoring the interests of the '1%' over the '99%', in an effort to promote more equitable policies and decision-making.
• Evaluate the long-term impact and legacy of the Occupy Wall Street movement in shaping the discourse around income inequality and the role of corporations in the political process.
  • While the Occupy Wall Street movement did not achieve specific policy changes, its impact on the broader discourse around income inequality and the role of corporations in the political process has been significant and long-lasting. By bringing these issues to the forefront of public consciousness, the movement helped to shift the national conversation and inspired further activism and advocacy efforts aimed at addressing the growing wealth gap and the perceived imbalance of power between the wealthy elite and the rest of society. The movement's critique of corporate influence in politics and the concept of corporate personhood has continued to shape debates around campaign finance reform, lobbying, and the role of money in the political process. Additionally, the Occupy movement's emphasis on grassroots, decentralized organization and the use of social media as a tool for mobilization has influenced the tactics and strategies of subsequent social movements, demonstrating the enduring impact of the Occupy Wall Street protests on the broader landscape of political and economic activism.

Related terms

Income Inequality: The unequal distribution of income and wealth within a population, where a small percentage of the population holds a disproportionately large share of the total income or wealth.

Corporate Personhood: The legal doctrine that grants corporations the rights and protections afforded to individual persons, including the right to influence the political process through campaign contributions and lobbying.

Wealth Gap: The growing disparity between the wealthiest individuals or households and the rest of the population, often characterized by the top 1% holding a significant portion of the nation's total wealth.