Occupy Wall Street

Definition

Occupy Wall Street was a protest movement that began in 2011, primarily in New York City's Financial District, against economic inequality, corporate influence in government, and the perceived undue influence of the wealthy on the political and financial systems. The movement sparked similar protests around the world, known as the 'Occupy' movement.

5 Must Know Facts For Your Next Test

1. The Occupy Wall Street movement was a response to the financial crisis of 2007-2008 and the perceived lack of accountability and reform in the financial sector.
2. The protesters occupied Zuccotti Park in New York City, creating a makeshift encampment and staging demonstrations to draw attention to their cause.
3. The movement's slogan, 'We are the 99%,' highlighted the growing wealth gap between the wealthiest 1% of the population and the rest of the population.
4. Occupy Wall Street inspired similar protests in hundreds of cities around the world, with participants using the 'Occupy' moniker to draw attention to local issues of economic and social justice.
5. The movement's decentralized, leaderless structure and focus on direct action and civil disobedience were seen as a departure from traditional political activism.

Review Questions

• Explain how the Occupy Wall Street movement relates to the decline of legislative influence, as discussed in the context of 9.4 The Decline of Legislative Influence.
  • The Occupy Wall Street movement was a direct response to the perceived lack of legislative influence in addressing economic inequality and the disproportionate power of the wealthy and corporate interests. The protesters argued that the political system had been co-opted by these powerful groups, diminishing the ability of the legislative branch to effectively represent the interests of the majority of the population. By drawing attention to these issues and engaging in civil disobedience, the Occupy movement sought to challenge the status quo and pressure lawmakers to enact reforms that would reduce economic disparities and limit the influence of moneyed interests in the political process.
• Analyze how the decentralized, leaderless structure of the Occupy Wall Street movement may have contributed to the decline of legislative influence, as discussed in the context of 9.4 The Decline of Legislative Influence.
  • The decentralized, leaderless structure of the Occupy Wall Street movement, while a departure from traditional political activism, may have also contributed to the decline of legislative influence. Without a clear leadership hierarchy or unified policy agenda, the movement faced challenges in effectively engaging with and influencing lawmakers. This lack of a cohesive, coordinated approach made it difficult for the movement to translate its message into concrete legislative action, as lawmakers often prefer to work with organized, well-defined interest groups. The Occupy movement's emphasis on direct action and civil disobedience, rather than traditional lobbying and political negotiations, may have further exacerbated the disconnect between the protesters and the legislative process, contributing to the decline of legislative influence as described in the context of 9.4.
• Evaluate the long-term impact of the Occupy Wall Street movement on the relationship between the public, the legislative branch, and corporate interests, as discussed in the context of 9.4 The Decline of Legislative Influence.
  • The Occupy Wall Street movement, while ultimately unable to achieve its specific policy goals, may have had a lasting impact on the relationship between the public, the legislative branch, and corporate interests. By drawing attention to the growing wealth gap and the perceived undue influence of the wealthy and corporate elite on the political process, the movement helped to shift public discourse and awareness around these issues. This increased scrutiny of the relationship between the legislative branch and corporate interests may have contributed to a decline in public trust in the ability of lawmakers to effectively represent the interests of the majority. Additionally, the movement's emphasis on grassroots activism and direct action may have inspired a new generation of political activists to challenge the status quo and seek alternative avenues for influencing the political process, further contributing to the decline of traditional legislative influence as described in the context of 9.4.

Related terms

Economic Inequality: The unequal distribution of income and wealth within a population, with some individuals or groups having significantly more resources and opportunities than others.

Corporate Influence: The ability of large corporations and businesses to shape government policies, regulations, and decision-making in their favor, often at the expense of the general public.

Occupy Movement: A series of protests and occupations that took place around the world, inspired by the Occupy Wall Street movement, with the goal of addressing issues of economic and social justice.