Occupy Wall Street

Definition

Occupy Wall Street is a progressive social and political movement that began in 2011, advocating against economic inequality and the influence of corporate money in politics. The movement gained widespread attention through its protests in New York City’s Zuccotti Park, where participants called for greater economic justice and accountability from financial institutions. Its slogan, 'We are the 99%,' highlights the disparity between the wealthiest 1% and the rest of the population, reflecting a significant ideological shift toward activism focused on social equity.

5 Must Know Facts For Your Next Test

1. Occupy Wall Street started on September 17, 2011, and quickly attracted global attention through its innovative use of social media and grassroots organizing.
2. The movement emphasized issues like student debt, unemployment, and corporate greed, resonating with many who felt marginalized by traditional economic systems.
3. Occupy Wall Street's approach to consensus-based decision-making was intended to be inclusive but also faced criticism for being inefficient.
4. Although the physical occupation ended in late 2011, the movement's ideas influenced subsequent political discussions and social movements around economic inequality.
5. The movement inspired similar protests globally, emphasizing the interconnectedness of economic struggles across different countries.

Review Questions

• How did Occupy Wall Street reflect changes in public perception about economic inequality?
  • Occupy Wall Street marked a significant shift in how many people viewed economic inequality. By popularizing phrases like 'We are the 99%', it brought attention to the vast wealth disparity between the richest individuals and average citizens. This framing encouraged discussions about systemic issues related to capitalism and wealth distribution, making economic justice a central issue in political discourse.
• Evaluate the impact of Occupy Wall Street on contemporary social movements focusing on economic justice.
  • Occupy Wall Street had a profound impact on later social movements that focus on economic justice. By bringing issues like corporate influence in politics to the forefront, it laid the groundwork for other movements such as Black Lives Matter and Fight for $15. The emphasis on grassroots organizing and direct action inspired activists to adopt similar strategies to challenge systemic inequities, ultimately reshaping public policy discussions around labor rights and social equity.
• Synthesize the goals of Occupy Wall Street with broader ideological trends in American politics since its inception.
  • Since its inception, Occupy Wall Street's goals have aligned with broader ideological trends toward increased scrutiny of economic power structures in American politics. The movement's focus on wealth inequality and corporate accountability has resonated with rising populist sentiments across both liberal and conservative spectrums. This synthesis has sparked debates around taxation, financial regulation, and social welfare policies, highlighting how Occupy Wall Street has contributed to a larger dialogue about democracy and equity in American society.

Related terms

1% vs. 99%: A phrase that symbolizes the growing economic divide in society, where the top 1% of income earners hold a disproportionate share of wealth compared to the remaining 99%.

Social Justice: The view that everyone deserves equal economic, political, and social rights and opportunities, often associated with movements advocating for systemic change.

Grassroots Movement: A movement driven by the community members themselves rather than by established political leaders or organizations, focusing on local engagement and activism.