key term - Occupy Wall Street

Definition

Occupy Wall Street was a progressive protest movement that began in September 2011, primarily focused on issues of economic inequality, corporate greed, and the influence of money in politics. The movement started in New York City's Zuccotti Park and quickly spread across the United States and internationally, symbolizing a larger discontent with the financial system and calling for social and economic reforms.

5 Must Know Facts For Your Next Test

1. Occupy Wall Street began on September 17, 2011, and was organized by activists from various backgrounds, focusing on issues related to economic injustice.
2. The movement utilized social media as a tool for organizing protests and sharing information, helping it to gain rapid attention both domestically and internationally.
3. The term 'the 99%' became a rallying cry for the movement, representing those who were negatively affected by corporate greed and economic policies favoring the wealthy.
4. Protests were characterized by a commitment to nonviolence and inclusivity, with participants practicing consensus-based decision-making in their assemblies.
5. Although the movement did not lead to immediate legislative changes, it succeeded in raising awareness about income inequality and influencing public discourse on economic policies.

Review Questions

• How did Occupy Wall Street address issues of economic inequality, and what methods did protesters use to spread their message?
  • Occupy Wall Street tackled economic inequality by highlighting the disparity between the wealthiest 1% and the rest of the population, advocating for social and economic reforms. Protesters used social media platforms to organize events, share information, and mobilize support. The use of slogans like 'the 99%' helped convey their message effectively, resonating with people who felt marginalized by the existing economic system.
• Evaluate the impact of Occupy Wall Street on public awareness regarding corporate influence in politics and its relation to economic policies during the Great Recession.
  • Occupy Wall Street significantly raised public awareness about corporate influence in politics by criticizing practices such as lobbying and campaign financing. The movement’s focus on issues like TARP illustrated concerns that government bailouts favored large corporations while neglecting ordinary citizens. As a result, discussions about wealth inequality and financial regulation gained traction in political debates, pushing these topics into mainstream conversation.
• Assess the long-term effects of Occupy Wall Street on subsequent social movements and how its legacy continues to shape discussions on economic justice today.
  • The long-term effects of Occupy Wall Street can be seen in its influence on subsequent social movements, such as Black Lives Matter and climate change activism. The emphasis on grassroots organizing, inclusivity, and social justice principles has inspired newer generations of activists. Its legacy continues to shape discussions about economic justice by keeping issues of wealth disparity in public discourse, encouraging ongoing advocacy for systemic reforms that challenge corporate power and promote equitable policies.

Related terms

1% vs. 99%: A slogan that emerged from the Occupy Wall Street movement, highlighting the disparity in wealth and income between the wealthiest 1% of the population and the remaining 99%, emphasizing the need for economic justice.

TARP: The Troubled Asset Relief Program, a financial bailout program enacted in 2008 during the Great Recession to stabilize the financial sector, which became a focal point of criticism for protesters who viewed it as a bailout for the wealthy at the expense of ordinary citizens.

Social Justice: A concept that promotes fair treatment and an equitable distribution of resources, opportunities, and privileges within society, which was central to the messages of Occupy Wall Street.