Occupy Wall Street

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  • Topic: Economic inequality, Income, Distribution of wealth
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  • Published : March 10, 2013
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Occupy Wall Street
Emmanual D Tomes
Strayer University
Business Ethics
BUS 309
Dr. Adrienne Garabedian
February 03, 2013

1) Discuss the moral and economic implications involved in the movement: After the sub-prime crisis had ended and its harsh realities began to come up on the face of financial services, firms such as Goldman Sachs and Credit Suisse requested government bailouts which were financed by the taxpayers’ money. From this, outrage ensued and to retaliate, people began what is called the Occupy Wall Street movement, whose aim was to be able to stop the ruthless and selfish profit making mechanism of financial giants. For the same, a protest was held which showed that there is income inequality in the US and these companies as well as the government, while taking this step, has ignored the majority of the society and concentrated only on the affluent minority. In the on-going process, many means of showing ones dislike and anger have been used. For people, the story is about either the closing down of an important economic port to show ones dislike and also going and filling up of jails to going for peaceful agitation on the road. The impact would be on the economic front. Firstly, it has had its share of support from the President, who has assured that proper distribution of resources is done. The means of stopping a port in Portland and thus affecting the trade done from the areas of San Diego, Los Angeles and Oklahoma etc. have already disrupted the trade their and has caused a lot of revenue loss on that front. It has also putting pressure on the government to take corrective action. Such agitations have already shown negative impact on the stock market so that is one kind of economic front that has been hurt. That is not all; the kind of money that is invested from stopping the people from going berserk is also a part of the impacts. Latest news reports have shown that millions have gone down the drain in effort to stop the spread on Occupy Wall Street (Francis). Moral Grounds and implications:

Done against what has been called as economic and financial injustice, the Occupy Wall Street is targeting to bring about a moral change in the way things are considered by the companies and the authorities. For once, the kind of approach that has been followed by the people till now would try and bring about a change in the way Declaration of Independence and US Constitution is viewed at and some revitalization is sure to happen. Then again as said earlier, the policies that have been targeting to achieve for the 1% of the society will be and must be changed. When that happens, a real sense of equality and fairness would come into play and that is what would be the order of the new economic and financial system. (Jathan Sadowski, 2012). 2) Analyze each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement. Support your position with examples and evidence: The movement which has taken place in order to provide for better treatment for the middle and lower middle income groups , has had to go through the test of ethics to find out whether the approach that has been followed is for the good of the people or not. The three ways are: Utilitarian approach which says that the any approach or means that is done for the greater good of the greater section of the society is the correct means. Kantian approach says that any deed that is done because of duty and not because of some practical reason is the best means of judging its need and requirement in the society. And virtue ethics says that it is the character of the moral agent and not any other means and cause that determines how ethical the work or deed is. Out of all the three approaches that have been proposed, the Utilitarian approach is the closest of all when it comes to the Occupy Wall Street movement. While it is true that the movement had started at a very...
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