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Confessions of an Economic Hit Man, by John Perkins
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"Economic hit men,” John Perkins writes, “are highly paid professionals who cheat countries around the globe out of trillions of dollars. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder.”
John Perkins should know—he was an economic hit man. His job was to convince countries that are strategically important to the U.S.—from Indonesia to Panama—to accept enormous loans for infrastructure development, and to make sure that the lucrative projects were contracted to U. S. corporations. Saddled with huge debts, these countries came under the control of the United States government, World Bank and other U.S.-dominated aid agencies that acted like loan sharks—dictating repayment terms and bullying foreign governments into submission.
This New York Times bestseller exposes international intrigue, corruption, and little-known government and corporate activities that have dire consequences for American democracy and the world. It is a compelling story that also offers hope and a vision for realizing the American dream of a just and compassionate world that will bring us greater security.
- Sales Rank: #102710 in Books
- Brand: Brand: Berrett-Koehler Publishers
- Published on: 2004-11-09
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x .95" w x 6.46" l, 1.29 pounds
- Binding: Hardcover
- 250 pages
Features
Amazon.com Review
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
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.
Review
"A bombshell. One of those rare instances in which someone deeply entrenched in our governmental/corporate imperialist structure has come forward to reveal in unequivocal terms its inner workings. A work of great insight and moral courage."
—John E. Mack, Harvard professor and Pulitzer prize-winning author of A Prince of Our Disorder: The Life of T. E. Lawrence
“Perkins combines the brilliance and suspense of a Graham Greene thriller with the authority of his insider vantage point to tell a true, powerful, revealing, and bone chilling personal story that names names and connects the dots . . . ”
—David Korten, author of the bestselling When Corporations Rule the World
"A stunning and groundbreaking book that is a must-read for anyone who cares about our world.”
—Lynne Twist, Global Activist, author of the bestselling The Soul of Money
"… provocative and disturbing…. This book succeeds as a wake up call because the reader cannot help but assess his or her role on a personal level, thus providing an impetus for change.”
—R. Paul Shaw, former Lead Economist, currently Program Adviser, Human Development Group, World Bank Institute
“Must reading for those who know another world is possible!”
—Hazel Henderson, author of Beyond Globalization and Building a Win-Win World
" … a fascinating insider's view of how a private multinational company legally robs the poor of the third world, country after country.”
—Josh Mailman, cofounder, The Threshold Foundation, Social Venture Network, and Business for Social Responsibility
" With unflinching honesty, Perkins narrates his moral awakening and struggle to break free from the corrupt system of global domination he himself helped to create. This book … comes from the heart. I highly recommend it."
—Michael Brownstein, author of World on Fire
"A thrilling story. . . the true account of a deeply dedicated and courageous man…"
—Stephan Rechtschaffen, M.D., CEO, Omega Institute, and author of Timeshifting
Most helpful customer reviews
1 of 1 people found the following review helpful.
Read to understand the nature & subtelty of the American global empire
By Sonny Laskin
After reading this book, this work gave me a totally new perspective on the halcyon period of my life growing up in Jakarta, Indonesia in the early 1980's. My father was a Vice President in finance credit & lease lending for the once bank Manufacturers Hanover (later merged to Chemical bank and finally to Citibank to grow its monopoly on banking), where he lent money mostly to the oil companies to finance their exploitation of the island's oil resources. Once where I viewed the exclusive private school I went to JIS (its where President Obama also went to when he grew up in Jakarta), the exclusive expatriate suburb Pondak Indah and the expensive American club, I now see as places to exclude and get away from the native population and their culture albeit the American embassy did at times have the occasional presentation on Indonesian culture. Since I was very young, I had a very dissembled view on the Indonesian native population. I also lived like the author for six months in the Hilton Hotel (though he stayed at the Intercontinental) paid by Manny Hanny and had the most fun eating all the food you can eat, play all the tennis & bowling you can. I know now I see a different take on the servants we had and the driver we had to drive our family all around Jakarta. What was their life like and what was their families like that had to do to sustain our lifestyle?
Its the central theme in John Perkins book. The exploitation of the many as indentured workers to serve the very few special rich. Its an intertwined web of corporations, governments and NGOs (Perkins calls this web the Corportocracy) to produce non-sustainable debt in third world countries that they can never pay off to eventually give our Country's corporations eventual exploitation of their resources as an ersatz for payment of their debt.
Perkins cites many other third world countries besides Indonesia like Panama, Ecuador, Chile, Venezuela,..etc that America has used this method of entrapping and having influence over using the EHM method of debt piling a country's balance sheet. Its very intriguing to read about if the politician does not go along with this and is assassinated by jackals hired by the CIA to overthrow that leader and to install a puppet leader to be used by the United States. This is not a spy novel but this is all common knowledge and Perkins is great in assembling and bring together all the knowledge that is out there on American global manipulation and putting it together in this book.
Perkins makes a good point that all this debt riddling of countries will eventually come to an end when the US dollar no longer is the world's reserve currency. As this debt would eventually need to be called and repaid. I do think Perkins should have mentioned that not only does the USA debt burden foreign countries but the US debt burdens its own citizens domestically also. American savings loans, US bank bail outs, QE1-3,..etc have also enlarged out domestic debt. So not only doesn't the American government do not really care about foreigners living off in far off lands, it essentially doesn't care about its own citizens. Add that in with State and municipal governments with huge pensions and debts it cannot repay, America is on the verge of bankruptcy. So this corpotocracy system seeks to exploits its own citizens may show that end is very near. Only at the end does the government animal cannibalize its own population.
Perkins does not explain why the EHM model changed from his time in the early 1970's with a NSA liaison training him specifically to exploit countries by fudging economic statistics to the time in the early 1980's when NSA government help was no longer needed. The new fresh graduates were somehow automatically brainwashed in the money Perkins was making to just accept the fact that to make a lot of money this is how to play the game. I really don't find that plausible and Perkins doesn't really clearly explain this in a cogent fashion for me to accept his explanation.
In summary a sublime work on the nature of empire building by the USA corportocracy in the 20th & 21st centuries. Of course the USA will fall inevitably probably in the next 10-20 years and we will be watching the rise of China take over the hill as the big dog and Mr. Perkins thesis that the US dollar will lose its status as the world's reserve currency will come to fruition and the USA global empire will crumble. Read this book now before the USA corporate empire becomes a memory in books about empires like the British, Ottoman & the Roman.
2 of 2 people found the following review helpful.
A Must Read! It Will Change Your Thoughts
By Michelle P
The only reason I bought this book was for a Argumentative Writing class. This book did not teach me how to write a argumentative paper. It did however, open my eyes to a world I knew nothing about. I normally only read paranormal romance but this book I actually wanted to read and finish!
Even if what Perkin's says is the truth or a lie, it does open to some great debates. I never heard of the Panama Invasion in high school. After reading and doing a paper on it for my class I learned there are a lot of cover ups for what was really the plan. Thousands and thousands of innocent people died during the invasion. It was said they were going after one guy but a few days before Christmas thousands of people, men, women, and children were murdered. Some even had their hands tied behind there backs. Why, because they said they were going after a man who was dangerous. When in reality the U.S. was losing there grip on Panama and needed it back.
I always wondered why people around the world hated the U.S so much. This book is worth the read. If you want to educate yourself, I suggest you pick this book up and start reading.
1 of 1 people found the following review helpful.
A good, important message by Perkins, but hypocritical.
By A Time Traveler
Perkins lays out what his job was for the American government:
Perkins was sent in with a proposition for newly-christened foreign leaders who were given an offer (that was unwise to refuse) of riches and comfort IF they accepted American corporations coming to their country to basically rape it for any and all raw materials, precious metals, energy, etc. If (and sometimes when) Perkins failed to cajole the leader into accepting this sellout offer, then said leader would find himself the victim of either a military putsch OR dead in a plane crash.
Perkins's book has an important message to impart in that the American government has exercised this ugly practice in literally DOZENS of countries since WWII -- sometimes multiple times in the same country. My contention with Perkins is with Perkins himself. Basically, he waited good and long (and made his nest egg $$$$$$$$$$) before making more money by writing this book about how he participated in raping some of the already desolately-poor countries on the planet. Anyone else see something wrong here? Now that he has made his gold, he now takes the opportunity to make more money preaching about the evils of the American empire? Think I'm being a harsh critic? When Perkins "left" his government service, he still employed his golden parachute by taking a job at a juicy American corporation and I might add, still kept his complicit mouth shut for YEARS.
An important message? You bet. However, let's not forget the millions who suffered under a system propagated by the author himself even after his conscience got to him and he left government service. I'd be FAR more impressed had he taken action immediately at the time rather than waiting years upon years while feathering his own nest.
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