Occupy wall street movement Essay Example | Topics and Well Written Essays - 1500 words

Occupy wall street movement - Essay ExampleThe sentiment becomes communicable and spreads to all countries of the world. 1. What are the Moral and economic implications involved in the movement? Moral implications of the movement reflect in recklessness on the part of fewer powerful corporations as in the case of Enron or powerful industry like financial services as in the case of subprime crisis which has not whole affected various stakeholders and the democracy, but destroyed the fabric of the system. The governments policies in dealing with the crises aim been in favour of the corporations at the cost of the plebeian man. Pittman (2008) states that Without the government money, Goldman, Merrill Lynch & Co.,Morgan Stanley, Deutsche Bank AG and other firms could have become some of the unfitgest creditors in a bankruptcy filing by AIG, the worlds largest insurer, because of its billions in losses onsubprime bondsand corporate debt. Disintegration of the system over a period of time is the root cause of various economic and social issues which led to the uprising of this movement. The decay in the system erodes the values of democracy and demoralizes our capitalist society. The renaissance in thinking which forms the basis for the movement indicates the spiritual strength of the society and the nation which calls for a change. Economic development in a country is possible and sustainable only in a healthy society with equality in opportunities. Moral and economic implications are inseparable. Tax cuts to the rich corporate companies in the name of encouraging industrial development, and subsidies in the name of social welfare to cling to insurance companies and financial deregulation measures in the garb of liberalization, hitherto gone unnoticed by the public or misinterpreted in press to the benefit of big corporate entities have been brought under public debate. This has given rise to the questions related to issues such as morality of the corporat ions and relevance of the capitalism. Greed of the companies, for example pharmaceutical companies and the observable laws which protect them in their exploitation of the general public has become the common subject for public discussion. The dilemma of common men in prioritizing their resources even betwixt rent and food under inflationary conditions led them to unite under We are the 99% that reflects the economic inequality and lack of distribution of wealth. It is now believed that ontogenesis in wealth of 1% can be equated to the losses of the rest. Since Wall Street symbolizes the economic power of 1%, it lends focus to the agitations. Poverty has become the angiotensin-converting enzyme most economic issue to be tackled by the nation, and obviously, this responsibility cannot be left to the 1%, going by the experience. The technological innovations in the field of software product development and telecommunication though increased the complexities in the manipulation of t he system by the corporations on the one hand the same developments and rise of social networks have opened new opportunities and avenues for cohesiveness in the society and its self-realization. 2. How can we theoretically analyze the implications? According to utilitarian theory, good actions form the basis for overall happiness. The underlie cause of actions in the case of subprime crisis or other major financial scams is greediness on the part of the corporate companie