You may have heard about the Occupy Wall Street protests happening in New York, in which several hundred activists have taken over Zuccotti Park near Wall Street since Sept. 17 — and this past Saturday more than a thousand more joined.
Noam Chomsky applauded these (mostly) college students and their efforts to raise awareness of the cronyism, mismanagement, greed, cheating and deregulation that permeate the current business environment.
You may be asking yourself right now, “Well Jacob, down there by your name it says you’re a management information systems major — isn’t that a business major?” and yes, yes it is. However, I support protests against Wall Street corruption because I’d like to be unashamed of my business major, and the integration of ethics portions into my business classes shows me the university has the same goal.
But for these protests to have any meaningful impact on the way Wall Street operates, the demands they ask and the issues they raise need to be specific and thought-provoking. No “redistribution of the wealth” or “overthrow the corporate kleptocracy” catchphrase crap. People with a business education need to be leading the charge in this activism.
Relevant legislation can only be created through knowledge of the banking and investment industries. Making credit default swaps either transparent or illegal and outlawing credit rating agencies from being paid by the same companies they rate are two specific solutions to the problems that have contributed heavily to our economy’s problems. Yet, the average non-business student/protester lacks the knowledge of business jargon to adequately articulate these problems.
Maybe a general education course about the American economy would help. While Occupy Wall Street protesters are getting the message out, they, as well as the general public, could definitely benefit from some ethical business education so business can change for the better, be held accountable and stop screwing our country.