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îl!< Fortiani» (Obstruer
November 2, 2011
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I an H arris
October 2011 marked a
time in history when the
people of the United States,
facing great economic peril,
rose up to demand eco
nomic justice.
Since Sept. 17, thou
sands of Americans have
nonviolently occupied Wall Street. People
who have been laid off and marginalized
by economic hardship have been camping
out and waging nonviolent protests around
this country. These protestors have been
speaking out against unemployment and
economic injustice.
The rich have recovered and prospered
since the recession began three years ago.
Stocks have gained back their losses, and
the wealthiest one percent in this country
still have tax breaks generously granted to
them by the Bush administration. Corpo
rate profits have reached their highest
level since 1950.
Most recently, the federal government
bailed out banking institutions while mil
lions of Americans lost their homes through
foreclosures. Citigroup, a bank that re
ceived bailout funds, had a record $3.8
billion in profits this quarter, up 74 percent
from last year.
Meanwhile the middle class has been
ground down by the loss of public ser
vices and public sector jobs as local mu
nicipalities have had to lay off police,
teachers, and social workers. College
graduates can’t get secure jobs that will
help them pay off their debts and allow
them to develop careers that would pro
vide financial stability. The foreclosure
crisis halted new construction and led to
more layoffs. The poor continue to be
ignored, as they were earlier in the previ
ous century when Michael Harrington
wrote The Other America in 1962 describ
ing in some detail their plight. A record 46
million Americans now live in poverty.
Many students are homeless and millions
of people are hungry in the land of plenty.
Who is speaking for the poor these
days? Only themselves. Hence we are
getting spontaneous demonstrations in cit
ies around the U.S. protesting economic
injustice. Because tax revenues have fallen
off drastically and the Republicans won’t
allow tax increases, the federal govern
ment is proposing cutbacks and layoffs
that can only increase unemployment
lines.The private sector is reluctant to
invest because of economic uncertainty
around the globe. President Obama has
proposed a jobs bill that would invest in
Green energy and rebuilding infrastruc
ture. This laudable initiative will never get
out of a Republican controlled House of
Representatives.
These protests began in the heart of the
capitalist system. Wall Street, targeting a
stock market that has benefitted the one
percent of Americans who have profited
from the economic hardship felt by the
majority of Americans. The protestors call
themselves the 99 percent majority to high
light the extreme economic inequality that
exists right now. The share of income held
by the top one percent is 23 percent, the
highest since 1928 and more than double
the 10 percent level of the late 1970s.
Those demonstrating on Wall Street and
in other parts of the country have been
criticized because they do not have spe
cific demands. Their goal is to create an
awareness of the problems faced by such
an unequal economic system. Their job is
not to draft legislation, but rather build
public support for programs and policies
that would provide jobs and meaningful
career for the growing ranks of unem
ployed.
The demonstrators who are occupying
Wall Street and protesting on many main
streets across the country are crying out
about this unjust economy. They are ap
pealing to majority of Americans who are
seeing economic security being pulled
away from them. Hopefully, these demon
strations signal the beginning of a
majoritarian movement for economic jus
tice.
Ian Harris is a professor emeritus from the
University o f Wisconsin-Milwaukie.