Occupy Wall Street Protestors

Occupy Wall Street Protestors. Occupy Wall Street protestors decry the high rate of social and economic inequality, diminished opportunities in employment sectors and political corruption happening in United States.  The protestors claim that they are the 99% against the 1% affluent. How true this figure is a matter of debate. According to the protestors, the intensifying unemployment, income stagnation, and spending cuts are hurting the “99 percent”.

The protestors are dissatisfied with the measure taken by the government to pull the economy out of the recession and further accuse the wall street of holding the government hostage.  The 1% evades paying their tax. The recent bail out is seen as calculated move by the Wall Street to privatize profits and socialize losses.  The protestors are informed that when the companies owned by the super rich were in the blink of collapsing, they turned to politicians whom they had installed in government to bail them out using tax payers’ money.

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The U.S may adopt the famous Keynesian economics that advocates government intervention in the market. Before the recession, the American government had practiced the principle of free market that led to the market inefficiencies witnessed by the collapse of companies (Stiglizt, 2010). The recent recession raised doubts whether the market really has an invisible hand to regulate itself. The government should regulate monetary policy through the federal bank and regulate fiscal policy through the treasury. Beside that, there is need for the Americans government to provide a platform that will facilitate competition in the current global market.

List of References

Reyes, R. (2011). Tampa’s costs for Occupy protest less than other cities. Retrieved on Dec. 1, 2011 from http://www2.tbo.com/news/breaking-news/2011/nov/24/tampas-costs-for-occupy-protest-less-than-other-ci-

Rogers, S. (2011). Occupy protestors say it is 99% v 1%. Are they right? Retrieved on Dec. 1, 2011 from http://www.guardian.co.uk/news/datablog/2011/nov/16/occupy-protests-data-video#data

Stiglizt, J. (2010). Freefall: America, free markets, and the sinking of the world economy. New York: W.W. Norton & company.