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Keith Harrington

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Six Demands the Wall Street Protesters Should Make

Posted: 10/03/11 11:37 PM ET

A video from day 14 of the Occupy Wall Street protests shows an impressively huge crowd flowing through the arches of the NYPD headquarters in New York City. The crowd is chanting: "The whole world is watching, the whole world is watching!" While that may not be the case yet, we're getting there. And that brings up a pretty big problem for the protesters and the future of the movement: If the whole world does end up watching, what exactly will they be watching?

Like lots of leftists, I'm inspired by this movement, and elated that it's happening. But I'm deeply worried it could end up falling upon the sword of its own self-imposed ambiguity. Nothing sums up that ambiguity better than a quote from a recent article on the protests:

When [a protester was] asked how long he was planning to be there [he replied]... "Until change is made to the financial structure."


What that change might look like, no one can say for sure.

Here's what the occupiers are getting absolutely right: protesting and gaining attention for it. The world needs to know that there are those among us who are ready to take action, and not stand by while a ruthless, soulless elite hijacks our civilization and flies it into the ground.

But besides declaring "we're not going to take it" -- which is certainly an important thing -- the only other declaration the protesters have made is "we're angry, we're fed up, and we believe in a better world." And that's what they're doing wrong. Public outrage with the status quo is not news to anyone.

What the world needs to hear is an answer to the questions: "Where do we go from here? Is there a truly workable alternative to capitalism? How do we solve the myriad crises of capitalism?"

I understand there is a natural allergy among the protesters to taking this awesome amorphous mass of people power they've assembled and solidifying it around a core set of leaders or defined principles. And indeed, there are plenty of good reasons to avoid entrusting the voice and vision of the movement to a spokesperson. This is a people's movement; it's not a search for a messiah of hope to pull us out of dark times. It's about learning to pull ourselves out.

But while you don't need a spokesperson, that doesn't mean you shouldn't have "spokes-principles" -- a core set of ideas or answers to the crises of the Wall-Street Empire that speak for you, that communicate who you are to a public that's tuning in more and more every day.

Without that set of spokes-principles, the public may have sympathy for the protesters' motives, but it will ultimately fear their objectives. And the organizers will have done the world a great disservice by earning a big public spotlight and failing to shine it on answers that the world urgently needs to know and start talking about if we're going to have a fighting chance of saving our civilization.

The right spokes-principles can encompass all of the fluid, diverse, populist beauty and verve of the protests and channel it into a vision that the broader public can see itself and its aspirations reflected in.

If it's about anything, Occupy Wall Street is about challenging the economic imperialism of Wall Street. Naturally then, the movement's spokes-principles should be the principles of economic democracy as roughly defined here:

  1. People over profit: An economic democracy is an economy that subordinates profit to people, not the other way around.
  2. Stakeholders over shareholders: An economic democracy is an economic system in which the voices, rights, and interests of all economic stakeholders -- including employees, stockholders, communities, ecosystems, other species and future generations -- are represented. Unlike our current economy where shareholders are given primacy, in an economic democracy no one stakeholder is granted a disproportionate degree of power and privilege.
  3. Better not bigger: In order to reorient the economy towards people and all stakeholders, we have to release it from the captivity of profit. In an economy geared towards GDP growth, the bottom line is the bottom line, and protecting it means suppressing wages, slashing payrolls, passing on costs to other people, other places, and other times. Most importantly, our economy has outgrown the physical limits of the planet, and saving civilization means stopping growth. A democratic economy should be a steady-state economy where existing wealth is distributed fairly, and where economic health is measured by true indicators of social welfare rather than the blunt and archaic tool of GDP. The Center for the Advancement of the Steady State Economy is a useful resource for steady-state solutions.
  4. Main Street not Wall Street : The design of our financial system undermines true markets and productive community-based enterprises in favor of reckless speculation. It is designed to suck wealth away from communities and towards the corporate elite. A good blueprint here is the New Economy Working Group's report How to Liberate America from Wall Street Rule.
  5. One employee, one vote: An economic democracy is an economy where companies are built around the concept of one worker, one vote. In an economic democracy a company is a community of employees, where the employees, as full citizens of that community and the true source of company profit, decide how to invest that profit in the community. In this way, an economic democracy is distinct from both capitalism and socialism -- both variations of economic oligarchy -- where private boards on the one hand and public bureaucrats on the other decide how the profits workers generate are disposed of.
  6. Economic Constitutionalism: In the United States Constitution the framers properly defined the powers and limits to the powers of the powerful institutions that govern our society. In an age where corporations have become as powerful as any institution of government, and have amassed undue influence over the policies of those institutions, their powers need to be defined and constitutionally limited just like any institution of government.

This Declaration of Economic Democracy is by no means an exhaustive list. But it is an endlessly expansive one. One that is broad enough in its framework to incorporate and synthesize the wide diversity of dreams, grievances, demands and aspirations of the many people involved in the protests. It's one that can help the broader public understand and identify with the movement, and help the movement build an identity that's powerful enough to bring down the Wall and build a better world.

 

Follow Keith Harrington on Twitter: www.twitter.com/kharring

 
 
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04:01 PM on 10/16/2011
Well OK then how about this for a start, delivered to the White House Sept 16 1996

"Economics, and indeed human civilization, can only be measured and calibrated in terms of human beings. Everything in economics has to be adjusted for people, first, and abandoning the illusory numerical analyses that inevitably put numbers ahead of people, capitalism ahead of democracy, and degradation ahead of compassion. "

http://www.p-ced.com/1/about/background/
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01:48 AM on 10/05/2011
Perfect. But in truth it's much simpler.

All it takes is for the people who are currently ON Wall Street to ask the people in the offices behind the walls of Wall Street whether they can even come up with the sligthest clue as to why reckless maximization of shareholder value for firms within the financial sector even has any chance whatsoever to not require bailouts on a regular basis in order to not go bankrupt every couple of years.

The answer is: they don't have an answer. They have ZERO legitimacy. As simple as that.

They may tell all kinds of fancy stuff about why it's all so terribly complicated. But if all of that just adds up to the reuslt that not even the tycoons can provide a shred of evidence why it COULD work, there comes a moment where reform is quite inevitable.
12:24 AM on 10/05/2011
Harrington is right that the protest needs more specific demands that all can agree on, but those he outlines are still a bit too broad.

As a starting point, how about what the Tea Party was about before it was hijacked by the far right, " Stop the looting and start prosecuting."

Karl Denninger, one of the original Tea Party founders, elaborates on this and six more points that should be common ground for the Wall Street protesters in his blog at:
http://market-ticker.org/akcs-www?post=195248
12:18 AM on 10/05/2011
How about overturn Citizens United? That's pretty much the straw that broke my back morally.
09:46 PM on 10/04/2011
This isnt a statement supporting Fascism or Socialism. The reason that businesses and workers have grown apart is because government has effectively ended union power. You may think that unions dont do anything for you now, but ask people in 3rd world countries if a union might help their lives. The balance of power is now out of balance tilted toward CEOs. Unions are NOT perfect. They dont work in every situation. They focus too much on their dues over how they can assist the employees. The funny thing is that people have been convinced by the CEOs that we dont need to organize. Talk about self-interests! I think a interesting healthy co-dependent relationship has developed with GM and their unions. I think the union understands that their goal is to make the company successful while looking out for the employees. Seems like what was discussed above!
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jackinjax
I had to send micro-bio out to be dry cleaned.
07:19 PM on 10/04/2011
And how is different from fascism?

http://www.econlib.org/library/Enc/Fascism.html
11:19 AM on 10/05/2011
Fascism is a nationalist, totalitarian system in which the sole unit of political representation is the corporation and there are no individual rights. You do not get a VOTE in a fascist system; the CEO speaks for you.
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beerbagger
12-pack of genius
06:28 PM on 10/04/2011
Wall St is one scene of the crime and a great place to begin. Occupations should manifest on K Street and at the US Capitol too. Enough is enough... the US economy is here in the US, powered by US citizens. In businesses, offices, shops, restaurants, farms, factories, labs, schools, hospitals. Not board rooms, fancy yachts and political fund-raisers.
05:22 PM on 10/04/2011
Maybe directional isn't what's good for the time. Fill in the blank could be what younger folk are looking for.
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HUFFPOST SUPER USER
Sioen
Teacher. Traveler. Volunteer.
05:21 PM on 10/04/2011
For any of those things (or any of the other laundry list of good, worthwhile demands) to happen, we first need electoral and campaign-finance reforms.

How would any of those ideas get through our current government, or even one slightly more responsive that we could elect in our current, rigged political system? Until Citizens United is fixed and there is the opportunity for a multitude of voices and political parties -- I don't see how any of those things (all of which I support and want) can happen.

I'm eager, though, to learn, if anyone sees another viable mechanism or has some other crazy-good plan (Constitutional Convention?). Seems to me campaign finance reform has to be first, so we have a chance of electing like-minded people. Then electoral reform, once those like-minded people win enough votes. Then we can aim for doing the things most Americans say they want (like your list of demands).

Until then, we have to keep winning over the 99%. Join us.
11:43 AM on 10/05/2011
On Citizens United... To pass an amendment ending corporate personhood, we need either 288 Representatives and 67 Senators or 34 state legislatures to vote for it (the latter has never been done.) Then we'd need to ratify it in 38 states.

It's clear we're not going to get anything done in Congress until 2013. Maybe it's time to exercise that Constitutional alternative, and put pressure on state lawmakers to propose the amendment...
05:04 PM on 10/04/2011
For some of those points there are some nice communist and socialist countries you can move to that will provide those things for you. It is because of capitalism that made a country prosper. That made people want to come to America to make something of themselves to better their lives not a socialist system of redistribution of wealth. I do agree that crony capitalism has taken hold and needs to be broken. If a business is going to fail let it fail. People learn from failures.
11:47 AM on 10/05/2011
Corporations are not people. Corporations are a tool for the redistribution of wealth.
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Wanjiru
Debatably relatable ...
04:10 PM on 10/04/2011
“It is impossible for capitalism to survive, primarily because the system of capitalism needs some blood to suck. Capitalism used to be like an eagle, but now it's more like a vulture. It used to be strong enough to go and suck anybody's blood whether they were strong or not. But now it has become more cowardly, like the vulture, and it can only suck the blood of the helpless. As the nations of the world free themselves, the capitalism has less victims, less to suck, and it becomes weaker and weaker. It's only a matter of time in my opinion before it will collapse completely.” ~ Malcolm X.
03:38 PM on 10/04/2011
I think that in order to begin to affect any change in this country, we need to first get money out of politics. Please sign Dylan Ratigan’s petition to do just that: http://www.getmoneyout.com/
03:13 PM on 10/04/2011
Quit picking on BofA. With most banks you can get your money out for free. If you don't like the fees your bank has then move your money to another bank or put it under your mattress. It is irresponsible for a member of congress to tell people to pull money out of a bank. Read up on the Stock market crash of 1929.
11:49 AM on 10/05/2011
People in St. Louis tried to take out their money and move it just this past week... and BofA called in a SWAT team to stop them - literally. They REFUSED to give customers their money. No kidding.

Puts a whole different spin on things, doesn't it?
04:31 PM on 10/06/2011
That happened in August. (second paragraph of: http://business.gather.com/viewArticle.action?articleId=281474980498990)

Any customer could have gone to a different branch to withdraw.

BOA isn't refusing anyone access to their money.
03:06 PM on 10/04/2011
Why Wall Street? The Stock Market and Banks. Don't understand why anyone would have a problem with that. The Stock market exists because I buy stock along with 100 million other Americans and as many foreign investors. I own pieces of lots of companies. Quite try to destroy them. If the Stock market collapses America collapses, as it should. What is wrong with Banks? If it were not for banks no person would have credit and no house or car or computer. Why would anyone want to give up that.
11:51 AM on 10/05/2011
I don't use a bank. I don't use credit cards. My loans are direct government student loans, not banks loans, thanks to President Obama. I don't need any of these things at all... and I have a house and a car and a computer. It's called saving, and it's the RESPONSIBLE way to live. You should try it some time.
02:48 PM on 10/04/2011
One of the first real things that could be done to boost the economy would be to approve the oil pipeline with Canada now. Second, withdraw from the EPA the authorization to regulate CO2, a gas found ony in trace amounts in our atmosphere. An amnesty to bring home foreign held corporate money is a must, and a reduction in the capital gains rates usually spurs investment. All of these things are real options, as opposed to the fantasies of the weirdos sitting in on Wall Street.
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AlexNYC
Pumps dont work cause the vandals took the handles
04:13 PM on 10/04/2011
The items you listed are the very reason for the economic crisis and the inequality of the upper 1% versus the bottom 99%. Unregulated laissez faire capitalism is destructive to the people, the communities and the environment. Go sell crazy someplace else, we're not buying here.
05:10 PM on 10/04/2011
What is the alternative? Without individuals making their own ecvonomic decisions (the true definition of economic democracy), who will make these decisions for them/us?

If people will be empowered for making economic decisions for others, how will THEY be regulated from cronyism and or incompetence?
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batguano
As Long As Grass Grow, Wind Blow & The Sky Is Blue
04:13 PM on 10/04/2011
They say "if you are not part of the solution, you are part of the problem", and that is so appropriate to these comments so lacking in understanding for what is destroying our nation, but I guess that’s what you bring to the table. What is weird is pushing these bad ideas.

The proposed tar-sands pipeline is an ecological disaster waiting to happen and a give-away to the Koch bros. Global Warming regardless the reasons why, and scientists think they know why, is a very real threat to our nation and the world; the EPA if focused on real strong protections for our water, air and other corporate rapes of our environment is essential to our kids future. Amnesty for the overseas profits of greedy creeps who are stealing the American dream so they can profit by exporting factories and our jobs? BS! Evasions by corporations and the ultra-wealthy concerned with profits alone are destroying our republic; it is astonishing that the "health" of wall st is always touted as being tantamount to the health of our nation and people; that is the real fantasy!