Rule by a corporate elite requires war, corruption, and a cowed populace; democracy requires an educated population loudly demanding transparent, responsive government. Make no mistake: this is war. Guess who is winning?
Corporate elites (i.e., CEOs, CFOs, VPs, board members) of top corporations want four things: freedom from regulation, rock-bottom wages for American workers, a stock market bubble, and political control. To be clear, “top corporations” means the major Wall St investment firms that pretend to be banks, the major energy and mining corporations, and the major arms manufacturers – i.e., the firms whose CEOs have been making a personal killing from both the trashing of Iraq by the US military and the Great Recession of 2008. Needless to say, they are getting exactly what they want despite the lessons of both the Iraq occupation and 2008 recession scandals. It is they who run the economy, not representatives of the social good. These key CEOs also pretty much run the government, sending their representatives to Washington to write the laws and, more importantly in many cases, the implementing guidelines. Corporatism is probably the best name for this system we have in the U.S.; it is certainly not capitalism (i.e., free competition), a method reserved for Mom and Pop, who are perfectly free to go bankrupt whenever they wish.
This exclusive band of the corporate elite does not see a problem with declining wages, disappearing benefits, millions giving up the search for work, millions of home foreclosures (a great investment opportunity!), endless war, and brutal treatment of whistle-blowers to repress dissent. The corporate elite is achieving exactly what it has been trying for much of the last generation to achieve: the abolition of the New Deal compromise to facilitate a wholesale transfer of national wealth and political power into their private hands. All the public lamenting by Obama and Bernanke about “remaining problems” in the economy is just so much fluff. The problems of the U.S. economy are not “bad luck;” they are the intended outcome. The U.S. is being transformed into a third world economy of people too busy looking for work to make trouble by sticking their noses into politics (the proper business of the elite) and too poor to risk striking for higher wages. Obama and Bernanke (and Geithner) have been supporting this process with meticulous care by avoiding any hint that any actual live corporate individual was in any way morally or legally responsible for the harm their corporations have caused the American people.
Meek workers and meek citizens grateful for their Walmarts and the right to vote for either of two corporate candidates every few years is what the corporate elite wants. And they are getting exactly what they want. Remember how the protests in Wisconsin were shut down? Did you notice how fast the patriotic popular Occupy Movement disappeared? Are you watching how every whistle-blower gets bullied while the message they are trying to bring to the American public gets ignored? Snowden is at least the fourth NSA whistle-blower who has tried to alert Americans to the dangers of domestic spying over the last decade! Have we seen any official condemnations of NSA behavior, any independent investigatory commissions, any arrests or even admissions of guilt by senior officials?
The corporate elite and the citizenry have diametrically opposed interests. The corporate elite benefits from a stock market bubble, a main street depression, constant war, and discouraged citizens. In contrast, economic prosperity for the person, a vibrant democracy of involved citizens, transparency in government, regulation of corporations, and a foreign policy based on negotiated positive-sum cooperation are the components of a healthy society. Think of the things benefiting the corporate elite as food items in the corporate elite’s picnic basket and the starkly different items benefiting the population as foods in your picnic basket. You can’t mix items. Foreign war, domestic corruption, and an intimidated public are the legs on which corporatism towers over a democracy. In the long run, we the people really only have this simple choice: pick the basket you want…and if you want the democracy-peace-prosperity basket, hold on to it with both fists.