Is opening up our country to "brutal global competition" really the best thing to do, when it drives up trade deficits, foreign debts and domestic unemployment?
Why do the overwhelming majority of our political leaders consistently fail to ask this question?
Between 1980 and 2006, the share of all domestic profits made by banking and investment companies rose from 20 percent to 45 percent. During those same years, the manufacturing sector's share of domestic profits fell from 45 percent to 5 percent.
In today's economy, more and more American corporate leaders plan their economic futures as part of a global economy, increasingly disconnected from the future welfare of their own country and its workers.
Most new jobs for many companies -- including Apple, Boeing, IBM and Cicso -- are created abroad.
The nation's financial elite, Faux argues, was "aware that if manufacturing industries shrank, so would the political power of its strongest class adversaries, the unions."
Weaker unions have hurt Democrats running for office across the country.
Richard Trumka, described by Faux as "the most dynamic leader the AFL-CIO had since its inception in 1955," has criticized the Obama administration's "broken promises to labor."
"The Servant Economy" criticizes Barack Obama's policies that decrease federal civilian spending, leave our financial markets in the hands of speculators and do little to restructure our "bloated, inefficient health-care system."
Faux also criticizes the growing military budget. By 2011, it was larger than any military budget since World War II.
Part of those increases come from ongoing lucrative payments to private military contractors, like Blackwater.
In 2009, private military contractors provided 48 percent of all U.S. armed forces fighting in Iraq and 57 percent in Afghanistan. Mercenaries routinely get paid between $750 and $1,000 a day, or even more. Regular enlisted soldiers receive a pittance in comparison.
Faux criticizes some Democratic leaders for calling Social Security and Medicare "entitlements," a word suggesting those benefits are unearned and undeserved, even though deductions for those programs are taken out of every American's paycheck every week.
"No serious pundit argues that Social Security has anything to do with the deficit. If fact, it's just the opposite: the program's annual surplus has been financing the federal government. Despite this, cutting Social Security benefits is a priority among deficit hawks in both parties."
Faux believes regulating money that finances political campaigns has become a major "Constitutional question."
Public financing of elections is not the answer, especially since 90 percent of all Americans do not designate $3 from their already-paid federal taxes for public financing.
"The vast majority of Americans believe that money corrupts and prevents the government from serving the public's needs."
In 2010, the U.S. Supreme Court issued its Citizens United decision, allowing corporations to donate unlimited amounts of money to political campaigns.
At least 80 percent of all Americans disagreed with that decision, according to a Washington Post-ABC poll. Those who disagreed included 76 percent of all Republicans.
Americans will not be able to "effectively deal with the long economic twilight of empire that lies in front of them," Faux concludes, without insisting on reforms, especially cutting the dominant role corporate money plays in curbing our democracy.
Reach Paul J. Nyden at pjny...@wvgazette.com or 304-348-5164.