WEEKEND EDITION

OWS Through the Eyes of Nobel Laureate in Economics

| October 22, 2012 4:00 AM video

It’s been a little over a year since the Occupy Wall Street movement began on the streets of New York City. And while the passion for change caught on quickly — spreading across the nation and the globe in just months — it lost momentum when it was unseated from its physical base at Zuccotti Park in Lower Manhattan late last year. A core group is still in action, protesting financial inequality and the bailout of the Wall Street banks, among other issues, but the widespread actions and rallying cry that became ubiquitous: “We are the 99 percent,” is a mere echo of what it once was.

Nobel laureate Joseph Stiglitz, a Columbia University professor and author of the best-selling book “The Price of Inequality,” had hoped Occupy Wall Street would lead the country in change. Stiglitz visited Zuccotti Park last October and gave a speech that touched on inequality in America, capitalism and socialism and the right to protest. However, in an interview with MetroFocus, he says although the movement succeeded in getting a message across, it has failed to influence societal change due to its resistance to organization.

WATCH VIDEO:

MetroFocus host Rafael Pi Roman sat down with Nobel laureate and author Joseph Stiglitz. One of the many topics they discussed was Occupy Wall Street.

Members of the movement have been occupying the sidewalk outside Trinity Church downtown, but the media coverage it has drawn of late is that their presence has resulted in the cancellation of a popular family Halloween event held by the church — not exactly a big news on the political front.

To hear more from Joseph Stiglitz, tune in to the next episode of MetroFocus, premiering on WLIW21 on Oct. 23 at 10:30 p.m., THIRTEEN on Oct. 25 at 8:30 p.m. and NJTV on Oct. 25 at 10 p.m.

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MetroFocus is made possible by James and Merryl Tisch, Rosalind P. Walter, Charlotte and David Ackert, Jody and John Arnhold and the Dr. Robert C. and Tina Sohn Foundation. Corporate funding is provided by Mutual of America.
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