Confessions of an Economic Hit Man by John Perkins
From the author of the phenomenal New York Times bestseller, Confessions of an Economic Hit Man, comes an exposé of international corruption, and an inspired plan to turn the tide for future generations
With a presidential election around the corner, questions of America’s military buildup, environmental impact, and foreign policy are on everyone’s mind. Former Economic Hit Man John Perkins goes behind the scenes of the current geopolitical crisis and offers bold solutions to our most pressing problems. Drawing on interviews with other EHMs, jackals, CIA operatives, reporters, businessmen, and activists, Perkins reveals the secret history of events that have created the current American Empire, including:
- How the defeats in Vietnam and Iraq have benefited big business
- The role of Israel as Fortress America in the Middle East
- Tragic repercussions of the IMF’s Asian Economic Collapse
- The current Latin American revolution and its lessons for democracy
- U.S. blunders in Tibet, Congo, Lebanon, and Venezuela
From the U.S. military in Iraq to infrastructure development in Indonesia, from Peace Corps volunteers in Africa to jackals in Venezuela, Perkins exposes a conspiracy of corruption that has fueled instability and anti-Americanism around the globe, with consequences reflected in our daily headlines. Having raised the alarm, Perkins passionately addresses how Americans can work to create a more peaceful and stable world for future generations.
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The book heavily criticizes U.S. foreign aid and the widely accepted idea that “all economic growth benefits humankind, and that the greater the growth, the more widespread the benefits.” Suggesting that in many cases only a small portion of the population benefits at the expense of the rest, with the example including increasing income inequality where large U.S. companies exploit cheap labor and oil companies destroy local environment, Perkins describes what he calls a system of corporatocracy and greed as the driving force behind establishing the USA as a global empire in which he took a role as an “economic hit man” to expand its influence.
According to his book, Perkins’ function was to convince the political and financial leadership of underdeveloped countries to accept enormous development loans from institutions like the World Bank and USAID. Saddled with debts they could not hope to pay, those countries were forced to acquiesce to political pressure from the United States on a variety of issues. Perkins argues in his book that developing nations were effectively neutralized politically, had their wealth gaps driven wider and economies crippled in the long run. In this capacity, Perkins recounts his meetings with some prominent individuals, including Graham Greene and Omar Torrijos. Perkins describes the role of an economic hit man as follows:
Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, theU.S. Agency for International Development (USAID), and other foreign “aid” organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet’s natural resources. Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization.
According to Perkins, he began writing Confessions of an Economic Hit Man in the 1980s, but “threats or bribes always convinced [him] to stop.”
In the book, Perkins repeatedly denies the existence of a “conspiracy”.
I was initially recruited while I was in business school back in the late sixties by the National Security Agency, the nation’s largest and least understood spy organization; but ultimately I worked for private corporations. The first real economic hit man was back in the early 1950s, Kermit Roosevelt, Jr., the grandson of Teddy, who overthrew the government of Iran, a democratically elected government, Mossadegh’s government who was Time‘s magazine person of the year; and he was so successful at doing this without any bloodshed—well, there was a little bloodshed, but no military intervention, just spending millions of dollars and replaced Mossadegh with the Shah of Iran. At that point, we understood that this idea of economic hit man was an extremely good one. We didn’t have to worry about the threat of war with Russia when we did it this way. The problem with that was that Roosevelt was a C.I.A. agent. He was a government employee. Had he been caught, we would have been in a lot of trouble. It would have been very embarrassing. So, at that point, the decision was made to use organizations like the C.I.A. and the N.S.A. to recruit potential economic hit men like me and then send us to work for private consulting companies, engineering firms, construction companies, so that if we were caught, there would be no connection with the government.
— November 4, 2004 interview
John Perkins started and stopped writing Confessions of an Economic Hit Man four times over 20 years. He says he was threatened and bribed in an effort to kill the project, but after 9/11 he finally decided to go through with this expose of his former professional life. Perkins, a former chief economist at Boston strategic-consulting firm Chas. T. Main, says he was an “economic hit man” for 10 years, helping U.S. intelligence agencies and multinationals cajole and blackmail foreign leaders into serving U.S. foreign policy and awarding lucrative contracts to American business. “Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars,” Perkins writes. Confessions of an Economic Hit Man is an extraordinary and gripping tale of intrigue and dark machinations. Think John Le Carré, except it’s a true story.Perkins writes that his economic projections cooked the books Enron-style to convince foreign governments to accept billions of dollars of loans from the World Bank and other institutions to build dams, airports, electric grids, and other infrastructure he knew they couldn’t afford. The loans were given on condition that construction and engineering contracts went to U.S. companies. Often, the money would simply be transferred from one bank account in Washington, D.C., to another one in New York or San Francisco. The deals were smoothed over with bribes for foreign officials, but it was the taxpayers in the foreign countries who had to pay back the loans. When their governments couldn’t do so, as was often the case, the U.S. or its henchmen at the World Bank or International Monetary Fund would step in and essentially place the country in trusteeship, dictating everything from its spending budget to security agreements and even its United Nations votes. It was, Perkins writes, a clever way for the U.S. to expand its “empire” at the expense of Third World citizens. While at times he seems a little overly focused on conspiracies, perhaps that’s not surprising considering the life he’s led. –Alex Roslin –This text refers to an out of print or unavailable edition of this title.
From Publishers Weekly
Perkins spent the 1970s working as an economic planner for an international consulting firm, a job that took him to exotic locales like Indonesia and Panama, helping wealthy corporations exploit developing nations as, he claims, a not entirely unwitting front for the National Security Agency. He says he was trained early in his career by a glamorous older woman as one of many “economic hit men” advancing the cause of corporate hegemony. He also says he has wanted to tell his story for the last two decades, but his shadowy masters have either bought him off or threatened him until now. The story as presented is implausible to say the least, offering so few details that Perkins often seems paranoid, and the simplistic political analysis doesn’t enhance his credibility. Despite the claim that his work left him wracked with guilt, the artless prose is emotionally flat and generally comes across as a personal crisis of conscience blown up to monstrous proportions, casting Perkins as a victim not only of his own neuroses over class and money but of dark forces beyond his control. His claim to have assisted the House of Saud in strengthening its ties to American power brokers may be timely enough to attract some attention, but the yarn he spins is ultimately unconvincing, except perhaps to conspiracy buffs.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. –This text refers to an out of print or unavailable edition of this title.