27 Reading: Occupy Wall Street
Perhaps the social movement that ran the most contrary to theory in recent history is Occupy Wall Street (OWS). Although it contains many of the classic developmental elements of a social movement we will describe in this chapter, it is set apart by its lack of a single message, its leaderless organization, and its target—financial institutions instead of the government. OWS baffled much of the public, and certainly the mainstream media, leading many to ask, “Who are they, and what do they want?”
On July 13, 2011, the organization Adbusters posted on its blog, “Are you ready for a Tahrir moment? On September 17th, flood into lower Manhattan, set up tents, kitchens, peaceful barricades and occupy Wall Street” (Castells 2012).
The “Tahrir moment” was a reference to the 2010 political uprising that began in Tunisia and spread throughout the Middle East and North Africa, including Egypt’s Tahrir Square in Cairo. Although OWS was a reaction to the continuing financial chaos that resulted from the 2008 market meltdown and not a political movement, the Arab Spring was its catalyst.
Manuel Castells (2012) notes that the years leading up to the Occupy movement had witnessed a dizzying increase in the disparity of wealth in the United States, stemming back to the 1980s. The top 1 percent in the nation had secured 58 percent of the economic growth in the period for themselves, while real hourly wages for the average worker had increased by only 2 percent. The wealth of the top 5 percent had increased by 42 percent. The average pay of a CEO was now 350 times that of the average worker, compared to less than 50 times in 1983 (AFL-CIO 2014). The country’s leading financial institutions, to many clearly to blame for the crisis and dubbed “too big to fail,” were in trouble after many poorly qualified borrowers defaulted on their mortgage loans when the loans’ interest rates rose. The banks were eventually “bailed” out by the government with $700 billion of taxpayer money. According to many reports, that same year top executives and traders received large bonuses.
On September 17, 2011, an anniversary of the signing of the U.S. Constitution, the occupation began. One thousand outraged protestors descended upon Wall Street, and up to 20,000 people moved into Zuccotti Park, only two blocks away, where they began building a village of tents and organizing a system of communication. The protest soon began spreading throughout the nation, and its members started calling themselves “the 99 percent.” More than a thousand cities and towns had Occupy demonstrations.
In answer to the question “Who are they?” Castells notes “. . . by and large the movement was made up of a large majority of democratic voters, as well as of politically independent minded people who were in search of new forms of changing the world . . . ” (Castells 2012). What do they want? Castells has dubbed OWS “A non-demand movement: The process is the message.” Using Faceb