Occupy Wall Street and New Opportunities
As protesters rally for Occupy Wall Street for the fourth week it is just another sign that we are living through a time of significant transition. The world is always in flux but there is a strong sense that global society is shifting more than has been seen in many years.
From the contagious uprising in the Arab world, riots and protests in southern Europe to the looting and riots on our own streets in Blightly people are reacting with the ubiquitous words of Zack de la Rocha “if we don’t take action now, we’ll settle for nothing later”.
It occurs to me that we are at a cross roads. What we take action on or settle for now will affect the state of the nations in the years to come. There are competing forces at work and it is a great opportunity to be seized.
People are protesting in Wall Street and other centres of money and power because they are angry. They are angry because of the growing inequality between the rich and the majority, there is massive unemployment particularly amongst young people and there is a feeling that politicians do not represent them but serve the needs of the wealthy. And they blame the avarice of Wall Street and all it represents.
There is a wide spectrum of protesters of different hues and persuasions. Most people do not want communism or anarchy and to overthrow the White House but are just sick of our greedy form of capitalism, they want the things that really matter such as the environment, jobs and opportunities and equality to shape governance more than the interests of the rich.
Inequality is becoming starker. In America the top 1% takes home 25% of the total income, and look after 40% of all wealth. Just 25 years ago the top 12% took home 33% of all income. Despite the bigger pie argument the median income has fallen and all the growth in the last 25 years has lined the pockets of the rich.
In the UK, a recent report by the IFS (Institute of Fiscal Studies) has forecasted that middle incomes will fall by 7% by 2013 with the number of children living in absolute poverty rising to 23% (3.1 million).
For all the problems our government face with stagnant growth and the deficit there is a broader opportunity to create a new kind of society, a fairer banking system that serves the people and sustainable approach to how we live and do business. In the US there are different problems but similar opportunities. I just hope we can take up the challenge – I for one am going to be part of it!
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jonswarbrick posted this
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