17 September 2011: Occupy Wall Street protest begins
On this day in 2011, thousands of protesters answered the call to Occupy Wall Street, leading to similar protests around the world.
"Are you ready for a Tahrir moment?" Adbusters magazine asked of its readers in the summer of 2011. That year, Tahrir Square in downtown Cairo was at the centre of mass protests, known as the Arab Spring, aimed at bringing down corrupt governments across the region.
Meanwhile, across the Mediterranean in Spain, thousands of unemployed and dispossessed people, los indignados, camped out in plazas across the country, angered by austerity measures that saw their benefits cut and taxes raised in response to a financial crisis that they didn't start.
Activists in America recognised many of the same problems at home. Political lobbying by wealthy vested interests was rife. Bankers had been bailed out at the expense of the taxpayer, so that the US national debt stood at over $18trn. Yet bankers continued to receive bonuses and fat salaries, while only a tiny number were sent down for white-collar crimes.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Students, too, were furious at being lumbered with debt piles they could scarcely manage before they'd even graduated
And all the while, the gulf in wealth inequality continued to widen. In 2007, the top 1% of Americans was earning 23.5% of the nation's income, leading to the rallying cry, "We are the 99%!"
That summer in 2011, Adbusters printed a poster that read "#occupywallstreet September 17th", followed by the practical advice: "Bring tent". Thousands of protesters turned up on the allotted date at Zuccotti Park in New York City. Their first choice of Chase Plaza had already been roped off by police.
The global media coverage and use of social media meant that the Occupy Wall Street protest lit a touch paper, setting off similar protests around the world, including in London, where a tent city sprang up around St Paul's Cathedral.
"The camps may be gone and Occupy may no longer be visible on the streets, but the gulf between the haves and the have-nots is still there, and growing", wrote Michael Levitin in The Atlantic. "What appeared to be a passing phenomenon of protest now looks like the future of US political debate."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

-
26 million Brits at risk of retirement shortfall if state pension triple lock were to be scrappedCurrent projections of pensioner poverty assume the state pension triple lock will be in place for the next 50 years. Critics say this is unlikely and revised figures showing pension undersaving among millions more people give a truer picture of the crisis
-
Reeves calls on regulator to investigate steep private dental chargesThe chancellor has asked the Competition and Markets Authority (CMA) to look into the high costs of dental treatment amid concerns over rising prices which essentially locks people out of the system