Occupy Wall Street (OWS)

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Definition of 'Occupy Wall Street (OWS)'

On 13 July 2011, in a blog post, the Canadian Adbusters Foundation proposed a peaceful occupation of Wall Street to protest:
  • Corporate influence on democracy
  • The absence of legal repercussions for the bankers behind the recent global financial crisis
  • A growing disparity in wealth.
(Adbusters Foundation are best known for its advertisement-free anti-consumerist magazine Adbusters.)

This spawned the Occupy Wall Street (OWS) protest movement which began 17 September 2011 in Zuccotti Park which is located in New York City's Wall Street financial district. The protests are against social and economic inequality, high unemployment, greed, as well as corruption, and the undue influence of corporations—particularly from the financial services sector—on government. The protesters' slogan We are the 99% refers to the growing income and wealth inequality in the U.S. between the wealthiest 1% and the rest of the population. The protests in New York City have sparked similar protests and movements around the world.

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