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By Mike Lofgren:
The One Percent
It was in 1993 during Congressional deliberation over the North American Free Trade Agreement. I was having lunch with a staffer for one of the rare Republican members of Congress who opposed the policy of so-called free trade. I distinctly remember something my colleague said: “The rich elites of this country have far more in common with their counterparts in London, Paris and Tokyo than with their own fellow American citizens.”
That was just the beginning of the period when the realities of outsourced manufacturing, financialization of the economy and growing income disparity started to seep into the public consciousness, so at the time it seemed like a striking and novel statement.
At the end of the cold war, many writers predicted the decline of the traditional nation state … There have been hundreds of books about globalization and how it would break down borders. But I am unaware of a well-developed theory from that time about how the super-rich and the corporations they run would secede from the nation state.
Barbara Stanwyck: “We’re both rotten!”
Fred MacMurray: “Yeah – only you’re a little more rotten.” -“Double Indemnity” (1944)
Those lines of dialogue from a classic film noir sum up the state of the two political parties in contemporary America. Both parties are rotten – how could they not be, given the complete infestation of the political system by corporate money on a scale that now requires a presidential candidate to raise upwards of a billion dollars to be competitive in the general election? Both parties are captives to corporate loot. The main reason the Democrats’ health care bill will be a budget buster once it fully phases in is the Democrats’ rank capitulation to corporate interests – no single-payer system, in order to mollify the insurers; and no negotiation of drug prices, a craven surrender to Big Pharma.