Commentary: On #OccupyWallStreet Policy

By Marco Vernacatola
Creativity + Social Change
University of Connecticut
11 October 2011

Commentary on "Occupy Wall Street Shifts From Protest to Policy Phase," Los Angeles Times, October 11, 2011

The "Occupy Wall Street" movement, up until recently, has been dismissed by, well, almost everyone.  The protesters, often described as hippie-like, appear to have no goal in mind, no end game for how this whole movement will turn out.  However, as the movement picks up steam, more and more intellectuals and organizers are attaching themselves to the group, turning what was once a disorganized group of outcasts into a force to be reckoned with.

As this article describes, "Occupy Wall Street" is ready to move on to it's next phase, which is the policy-making phase.  The media and establishment reaction to the growth of this movement is starting to show hope for actual change in how the financial aspect of this country is handled.  A point this article makes is that "Occupy Wall Street" is a distinctly progressive movement, which before now, was not represented in the media in very many shapes or forms.  This movement, in the words of the author of the article, "will help give concrete form to a political narrative that so far has remained abstract in the public mind: That the financial industry has so far gotten a pass on its responsibility for the 2008 crash and escaped sufficiently stringent regulation, while government assistance to banks and Wall Street firms has left consumers in the dust." (1)

The idea that the financial system is being exploited by the major players who participate in it is something that is often voiced when two people discuss our nation's financial problems.  The ironic thing about it though, is that at a time when our nation needs financial reform the most, movements like the Tea Party spring up instead, wanting less regulation and reform.  For progressives, "Occupy Wall Street" is the cavalry that almost arrived too late.  As they enter the stage in their development where actual policy making may become the end result, it offers a beacon of hope for people desperately searching for an answer that doesn't consist of simply replacing everyone currently in office.

The "Occupy Wall Street" movement is also bringing to the forefront the inequality between the rich and the poor.  According to the article, "in 1980, the average income of the top 1% was about 30 times that of the lowest 20% of households; in 2006 it was more than 100 times that of the lowest quintile." (1)  While these figures aren't new, "Occupy Wall Street" is broadcasting them to the world in a big way.

I feel "Occupy Wall Street" may become much bigger than its detractors expect, or want, it to get.  It has become one of the few voices for the disappointed and discontent, and has gone from just a group of "lazy hippies" to a movement of like-minded people of all backgrounds wanting to make some sort of difference, even if it means taking on this nation's giants.