Ethical And Economic Implication Of Occupy Wall Street Movement



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Ethical And Economic Implication Of Occupy Wall Street Movement

Introduction

The movement of occupy Wall Street started on 17th September 2011 in the area of Zuccotti Park located in Wall Street New York which is a financial district. The large number of people which include activists groups, students and other parts of the society gathered to protest against the economic inequalities all around the world.

The purpose of the protest is to show the authorities public discontent and frustration over the current economic disparities and protestant urged the government to take specific measure and adoption of such policies which ensure equal distribution of resources. At the start of the protest, the Occupy Wall Street was portrayed as the economic forum to address the only economic issues. But latter on the scope of the protest became more broad and comprehensive. In the latter phase of the OWS movement, the protestant demanded strict actions against those who are involved in corruption and unfair means of conduct.

Discussion

Moral And Economic Implication Of Occupy Wall Street (OWS)

The movement OWS was started in United States , and the movement expanded to more than 70 countries. Such a vast scale movement made capitalistic governments to rethink their economic policies. The main theme of the OWS was economic and was opposed to the modern capitalistic economic system. The implication of OWS was also evident on the moral aspect of society. Unfair and unequal financial distribution of resources increasing wealth gap, corruption and exploitation terms became the cry of the crowd of the protest (Van, 2011).

Another important economic implication of OWS was the notion of the failure of the capitalism system. Countries where capitalism form of economic governance is prevalent saw the rebellion nature of the populace and people attributed accumulation of wealth and unequal distribution of wealth to capitalism system. It is said that exploitation of resource and labor and rampant corruption and prevalence of unethical practices all are the result of the capitalistic society. Chine especially quoted the movement of OWS as the opposition of American people against current economic system.

The moral implication of the movement gives us the insight of the aims of the movement. The people at the Zuccoti Park were clearly demanding the practices of fairness, legal and moral authority, liberty and care and the sanctity of the human rights (Klein, 2012).

In psychological term, fairness meaning is proportionality. The power of the movement came from the simple ethical message. That is it is wrong to destroy the world and the wreckage of one's hope and health is worse. There is a similarity of the moral ground of climate action movement and occupy Wall Street. The economic and social system which forces to bear the cost of recklessness of some influential individual on the rest of the society is unfair and unjust. Similarly, the system is immoral when it forces to bear the burden of privileges ...