Occupy the world

Occupy the world

Inspired by the Wall Street rallies that began on September 17, protestors worldwide have joined in the movement against financiers and politicians they accuse of ruining global economies.

Dozens of cities across the world, including London, Frankfurt, Washington Australia, Tokyo and Hong Kong, are holding demonstrations today in a show of solidarity with “Occupy Wall Street”, which is being coined as the “people powered movement for democracy.”

According to participants, these non-violent demonstrations are being staged to be initiate global change.

As these protests gain momentum globally, comparisons have been made between the Occupy Wall Street protests and the recent demonstrations in several Arab countries, some of which have seen change as a result.

In your opinion, can these protests actually reform global financial systems and how our countries economies are governed?

Is there really such a thing as people’s power?

Dawn.com invites its readers to give their views and suggestions.


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26 Responses to “Occupy the world”

  1. Umar says:

    The problem is not only of economists and capitalism, its the quota and favoritism by governments. Take the example of LPG, the prescribed rates are Rs. 118/KG for Rawalpindi/Islamabad, but in Bharakho, it is still Rs. 150/KG. And these rates might be below Rs. 100/KG, but due to its linkage to international markets/prices, its too high. Few people are getting in billions, but who cares?

  2. Sharma Anil ( India ) says:

    We have heard a little about ‘Islamic Banking’ . How does it work and what is it basic nature ? Will it solve some of the woes of globally accepted banking system ?

    • YK says:

      Yes, it may. current banking system takes return on long term loans on fixed ratio (rate) irrespective of market conditions in which the company exists. As the competition becomes tougher (due to increased production capacities and new market entrants) the margin profit becomes narrower and eventually become negative in some industries as their competitors may be less dependent on these fixed ratio loans, as a result company goes default and shareholders loose money.
      If return from companies is taken in proportion of profits made (as claimed by Islamic Banks), companies can be protected, preventing recession type situations.

  3. Ali says:

    Capatlism is a multi headed giant, I wish it could be stopped but chances are grim.

    When it comes to profit, there are no moral grounds for these companies. A simple example that can be asked is that how come a bottle of water cost more than the same size bottle of pepsi or coke? (which is also produced by the same companies)

    Stats does say that the rich are getting richer, I am sure they do not want to let go of that.

  4. habib rahman says:

    Democracy alone is not the solution of the huge problem we face to day.Democracy with a good responsble govt is useless and is part of the problems we face today.Greese is technically bankrupt and USa and other europian countries on the to bankruptcy sooner or latter.In usa they elected g.w.Bush twice to carry on in Iraq and Afghanistan costing more than 1.2trillion dollas and still going on.Greece is a smallcountry of about 10 million who cannot pay interest on its 150b.dollars debts and asking another 150B dollar loan to keep up.In usa they brought down the interest to almost zero,so the people who cannot pay the rent opted to buy houses and mansion they could not aford or simply borrow and invest in stock market causing real estate buble and spread to other eureapian countries including the tiny Iceland a responsible govt should not be wasting public money and stay within thei means.FRE MARKET ECONOMY WITH NO GOVT. INTERFRENCE PROVED WRONG ONCE AGAIN AND KEEP EYE ON BIG INTERPRICE AND DEVELER SOCIAL JUSTICE TO THEI PEOPLE.juctise delayed , justice denied.

  5. Tj says:

    The simple fact is…majority of those protestors don’t know the root cause of this mess. It’s goes something like this:
    1) Paper money which is debt
    2) Central Banks creating money out of thin air
    3) Fractional Reserve Banking
    4) Big government in bed with big business

    All these cause the users of the fresh money at low interest rates to speculate and screws the savers. As time goes on inflation is necessary to keep this ponzi scheme going. Paper money has always failed. The solution is to return to sound honest money and limit the size and scope of government and stop this economic fascism which is corporatism.
    The solution for the US is this:
    1) End the Federal Reserve
    2) End the wars
    3) End the Income Tax
    4) End fractional reserve banking
    All other problems will solve by itself.

  6. Kalyan says:

    What all these protests boil down to is participative democracy rather than representative democracy. Most people feel that the government and politicians do not represent the aspiration and interests of the people and that they look at their personal profit and listen to vested interests and corporations that fund their campaigns. They want a participative democracy where they have a direct say in the laws and decisions of the government that should not be swayed by vested interests. This can be achieved through technology such as social media where people can vote for laws and can also recall non-performing politicians and government.

  7. janan says:

    We got sold out, banks got bailed out” and “All day, all week, occupy Wall Street

  8. Rashid says:

    It is the new change around the world. Now we must find out the real cause of such global economic crisis. some scholars are of the view that the paper money should be replaced with gold or silver coins. There is global fraud behind the paper currency. such protest can bring a new change.

  9. Suuny says:

    i think these demonstrations are at very initial levels and Capitalism is a very strong system, the people who are benefiting will not let this system go very easily. It will take million times more efforts to get rid of Capitalism.

  10. Maqsood Baloch says:

    After the failure of communism, Capitalists have adopted the attitude of self-righteousness. However, I have always felt that communism and capitalism, both are extremes of certain economic ideology. Arab spring and “Occupy Wall Street” are two different movements, former is an uprising against dictatorial rule, and the latter is an effort to make world realize that Capitalism in its existing shape, where limited number of people amass unlimited wealth, by exploiting the services and life of millions of people is no more acceptable.

  11. Adnan says:

    These all problems occurred due to the debt crises and the prevailing interest. the economist must find an other solution to face these challenges. other wise just after finishing these crises may be some more crises occur due to debt, interest or any other financial instrument

  12. Leo says:

    Who these people are pressuring and what are the demands. That is not clear yet. In case of Arab spring the protestor were demanding a change of the regime in their respective countries. But in this case, the movement against financiers and politicians is against a bigger group that is not confined to any geographical boundaries. Besides, change demanded and alternative offered is not very clear as well. Therefore, these movements for a good and reasonable cause may take time much longer than the ones it being compared with.

  13. Shakeel GHOURI says:

    This is true that most part of globe’s economy is being grabbed and exploited by the politicians of the particular states rather than serving that economy for the well being of people. This is not only a shackled democracy but also the sign of the common people’s vulnerability from so called rulers. Such demonstration should be staged on global level to manifest that this era is not of such sort when people on the basis of their wealth used to call themselves ‘kings’ and others their slaves. This is the era wherein elected representatives, irrespective of their wealth, are servants of people and not rulers like ‘kings’

  14. Tauqeer says:

    In my opinion, this is the first hit on the nut shell of the capitalism and its leaving a crack there. The events could lead to take further momentum if steps to rectify the system are not taken. If we go with statatistics, 90 to 90% of the world is working for the few people. These few people are companies / banks are controling the world. I think the EU downfall and Americas economy losses are start of shifting the economies back to powerhouse of Asia & Africa & Brasil.

  15. Khalil Qureshi says:

    World have never seen any movement without bloodshed, that changed the system. Such movements are always a war between elite and suppressed, rich and poor, privileged and disadvantaged. People who have upper hand never leave their position without trying to suppress their opponent in the first place – no one would be. And this is the lesson of the history that every such movement culminates in violence and bloodshed.
    What we are seeing, happening in USA and now spreading all over the world and just experienced the glimpse of violence in Rome will definitely rise if this movement is gathering momentum and strengthen. Then there would definitely be unprecedented violence and bloodshed. It would change the history as well as geography.
    Keep watching.

  16. Naveed says:

    The crony capitalism prevalent in the world today has resulted in huge gap between the income levels of a very small minority of elite class and the rest of the people. The tipping point has been reached in my opinion and the people have had enough. It would be a long and hard struggle though, as it won’t be easy to replace the established economic order.

  17. teacher says:

    Yeahhhhhh!! OCCUPY EVERYTHING!! the countdown has begun! nothing can stop this revolution. People are sick and tired of this corporate greed. Time to stand up people! stand up for your right. Because if you dont stand for something, you will fall for everything.

  18. Aqeel says:

    Regardless of the outcome, the correct thing to do is to stand in front of the top 1 %.
    it is the right thing to do and we ought to do it

  19. Taimur says:

    I have high hopes from this movement against neoliberal capitalism and greedy corporations. Yes, movements like these can really bring reforms and YES there is something called people’s power and no one can stop it. the fact that domination takes place through consent rather than brute force shows that if people stand against oppression then oppressors have to quit or think of new strategies for control.
    LONG LIVE THE PEOPLE’S POWER. it is even better if it transcends nationalities and religions.

  20. Suraj Tschand says:

    Every person has a chance to buy and sell shares on Wall Street. It is the most democratic institution in the world and allows one to vote with ones money no matter how small.

    Most of the economic problems are because of indecisiveness of the Governments and implementation of secretive education policies. The businesses and industries that create jobs and economic activities find it difficult to make long term plans when the Governments keep on changing the rules. The education systems have become welfare for the vested administrators and teachers and totally ignore the need of the students. The education tracking systems are totally arbitrary and type-cast most of the poor children with potential.

  21. Naj says:

    Yes there is such thing as people’s power. We are tired of government taking care of the riches while destroying the lives of the middle class and keeping poor people poorer. Health care and education should be a norm all over the world but government rather be busy having wars. We are tired and it is time for “V for Vendetta”…

  22. syedmhaider says:

    This is a global awakening against the scourges of Capitalism and the global corporate culture that is running the politics to further their vicious profit-centric agenda that doesn’t regard any moralities, ethics and any any human values except the continuous, unabated greed of profit and more profit, thus amassing huge, baffling amounts of money in too few hands–since the factors of production are owned by only few people, misusing the laissez faire and right to private ownership. The movement is only going to gain momentum as it is based on a solid, real agenda. In USA the protesters are claiming that they are the 99% and deserve equitable treatment with regards to distribution of wealth. What’s appalling, however, is the double standards of USA: At one hand it speaks for freedom of assembly and expression and at the other hand we see a crackdown from US-admin on peaceful protesters rallying around in many cities of US now. I’m quite hopeful that this movement will, ultimately, cause a fundamental change in world’s financial and economic system.

  23. Muthu indian says:

    I’m not a communist but i believe that unbridled market capitalism which doesn’t provide minimal standard of living to the weakest sections should be overhauled by public pressure. Protests like these will send a message to the US govt that they have to initiate welfare measures for the dignity of average joe.

  24. Piyush says:

    Public demonstrations can really exert a pressure on the government.
    Just take an example of anna hazare’s anti corruption campaign but these demonstrations should be for a good cause and should take place non-voilently.

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