Occupy Wall Street movement is a protest effort that aims to highlight economic inequality in the United States. It began in September 2011. Activists first launched the movement by gathering in a park near the Wall Street financial district in New York City. The movement soon spread to other U.S. cities, as well as to cities in other countries.
Beliefs and goals.
Many Occupy Wall Street protesters argue that political and economic systems in the United States unfairly favor corporations and the wealthiest people. The protesters have emphasized the idea that, since the late 1900’s, most economic gains among Americans have gone only to the top 1 percent of earners. “We are the 99 percent,” became a rallying cry of the movement.
Many analysts describe the movement as a leaderless collection of liberal groups (see Liberalism ). Within the movement, individuals and groups vary in their strategies and goals. But most people in the movement want the government to help create jobs and reduce income inequality. They also want to lessen the influence of corporations on politics. Many protesters express anger at what they consider corporate greed.
Critics of the movement have said that it lacks a clear message. Others have pointed to instances of vandalism linked to the protests. The movement’s supporters, however, have pointed out that the rallies have been generally peaceful. They have also cited public opinion polls that show broad support for the movement’s central goals.
Growth of the movement.
The Occupy Wall Street movement began at a time of great frustration over the state of the U.S. economy. In 2008, during a worldwide economic slowdown, a number of banks and mortgage lenders failed. Congress then passed a $700-billion bailout plan for the financial industry. Many people were outraged that the firms would be bailed out in this manner by taxpayers. Many also criticized the government for doing little to reform the financial system or help create jobs.
Prior to the start of the protests, the Canadian magazine Adbusters had proposed an “occupation” of Wall Street to address economic inequality and corporate influences on government. The protests began on Sept. 17, 2011. That day, hundreds of people gathered at Zuccotti Park in New York City’s financial district. Many of the protesters set up camp in the park. On October 1, police arrested large numbers of protesters during a march across the Brooklyn Bridge. The protests gained increased public attention following the mass arrests.
Since September 2011, similar “Occupy” protests have sprung up in cities throughout the United States. Protests in Oakland, California, drew much media coverage. Protests have also taken place in London, Paris, Rome, and other cities around the world.
