Lecture Notes: Occupy Wall Street

Introduction

• Occupy Wall Street (OWS) began in 2011 in New York City's financial district.
• Movement quickly spread nationwide (e.g., Occupy Portland, Occupy Los Angeles).
• Protesters aimed to dismantle a system seen as favoring the rich.

Origins and Context

• Date: Protest started on September 17, 2011, at Wall Street, symbolic of economic inequality.
• Global Context: Anti-austerity protests in Europe, Arab Spring in the Middle East.
• Key Figures: Aaron Gupta and Michael Leverton were involved in the protests and set up the Occupy Wall Street Journal.

Economic Inequality

• Between 1979-2007, after-tax income for the top 1% increased by 275%, compared to an 18% increase for lower-income groups.
• The Great Recession preceded the movement, highlighting economic disparities.

Initial Protests

• June 2011: Small protests began outside New York City Hall against budget cuts.
• Planning: Left-wing activists organized a larger protest around Wall Street.

Zuccotti Park

• Protesters settled in Zuccotti Park, a privately owned public space.
• Features of the Encampment:
  • Power outlets, extension cables for phone charging.
  • Tents, food donations, kitchen, library, tech hub.
  • Publication of the Occupy Wall Street Journal.

Organization and Challenges

• Public forums and debates were held, leading to inefficiencies.
• Initially, the movement was largely composed of white, college-educated young adults.
• Lack of clear demands and strategic direction.

Escalation

• Clashes with police increased, garnering media attention.
• September 24, 2011: Clashes during a march north of Zuccotti Park led to arrests and incidents involving pepper spray.
• October 1, 2011: 700 arrested during a Brooklyn Bridge march.
• News coverage increased after violent confrontations.

Spread and Decline

• By October 5, the movement had spread nationwide.
• Increased labor union involvement.
• Protests spread globally but faced challenges due to lack of strategy and leadership.

Eviction and Aftermath

• November 15, 2011: Police evicted protesters from Zuccotti Park.
• Belongings were discarded leading to anger among protesters.
• Occupy's influence led to increased public awareness of inequality but little policy change.

Legacy

• Recognized by Time Magazine as "2011 Person of the Year."
• Influenced later movements such as Black Lives Matter, climate justice, and low-wage workers' movements.
• Political figures like Bernie Sanders and Elizabeth Warren benefited from its groundwork.
• Highlighted the importance of leadership and political strategy in sustaining movements.

Conclusion

• Demonstrations attract attention but require strategic leadership for sustained impact.
• Occupy laid groundwork for future anti-corporate populist movements but failed to achieve tangible policy changes due to lack of leadership.

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