  We determine the evolution of the faint, high-redshift, optical luminosity
function (LF) of AGN implied by several observationally-motivated models of the
ionizing background. Our results depend crucially on whether we use the total
ionizing rate measured by the proximity effect technique or the lower
determination from the flux decrement distribution of Ly alpha forest lines.
Assuming a faint-end LF slope of 1.58 and the SDSS estimates of the bright-end
slope and normalization, we find that the LF must break at M_B*=-24.2,-22.3,
-20.8 at z=3,4, 5 if we adopt the lower ionization rate and assume no stellar
contribution to the background. The break must occur at M_B*=-20.6,-18.7, -18.7
for the proximity effect background estimate. These values brighten by as much
as ~2 mag if high-z galaxies contribute to the background with an escape
fraction of ionizing photons consistent with recent estimates: f_e=0.16. By
comparing to faint AGN searches, we find that the typically-quoted proximity
effect estimates of the background imply an over-abundance of faint AGN (even
with f_e=1). Even adopting the lower bound on proximity effect measurements,
the stellar escape fraction must be high: f_e>0.2. Conversely, the lower flux-
decrement-derived background requires a limited stellar contribution: f_e<0.05.
Our derived LFs together with the locally-estimated black hole density suggest
that the efficiency of converting mass to light in optically-unobscured AGN is
somewhat lower than expected, <0.05. Comparison with similar estimates based on
X-ray counts suggests that more than half of all AGN are obscured in the
UV/optical. We also derive lower limits on typical AGN lifetimes and obtain
>10^7 yrs for favored cases.
