McKenzie Wark on Occupy Wall Street: 'How to Occupy an Abstraction'

The occupation isn't actually on Wall Street, of course. And while there is actually a street called Wall Street in downtown Manhattan, “Wall Street” is more of a concept, an abstraction. So what the occupation is doing is taking over a little (quasi) public square in the general vicinity of Wall Street in the financial district and turning it into something like an allegory. Against the abstraction of Wall Street, it proposes another, perhaps no less abstract story.
The abstraction that is Wall Street already has a double aspect. On the one hand, Wall Street means a certain kind of power, an oligopoly of financial institutions which extract a rent from the rest of us and in exchange for which we don't seem to get very much. “What's good for General Motors is good for America” was the slogan of the old military industrial complex. These days the slogan of the rentier class is: “What's good for Goldman Sachs is none of your fucking business.”
This rentier class is an oligopoly that makes French aristocrats of the 18^th century look like serious, well organized administrators. If the rhetoric of their political mouthpieces is to be believed, this rentier class are such hot house flowers that they won't get out of bed in the morning for less than a thousand dollars a day, and their constitutions are so sensitive that if anyone says anything bad about them they will take their money and sulk in the corner. They have, to cap it all, so mismanaged their own affairs that vast tracts of public money were required to keep them in business.
The abstraction that is Wall Street also stands for something else, for an inhuman kind of power, which one can imagine running beneath one's feet throughout the financial district. Let's call this power the vectoral. It's the combination of fiber optic cables and massive amounts of computer power. Some vast proportion of the money in circulation around the planet is being automatically traded even as you read this. Engineers are now seriously thinking about trading at the speed of light. Wall Street in this abstract sense means our new robot overlords, only they didn't come from outer space.
How can you occupy an abstraction? Perhaps only with another abstraction. Occupy Wall Street took over a more or less public park nestled in the downtown landscape of tower blocks, not too far from the old World Trade Center site, and set up camp. It is an occupation which, almost uniquely, does not have demands. It has at its core a suggestion: what if people came together and found a way to structure a conversation which might come up with a better way to run the world? Could they do any worse than the way it is run by the combined efforts of Wall Street as rentier class and Wall Street as computerized vectors trading intangible assets..?

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@'Verso'