Key Takeaways
1. Economic Hit Men: The Secret Agents of Corporate Empire
"Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars."
Covert operatives of greed. Economic Hit Men (EHMs) are the hidden architects of global empire, working to expand corporate and government influence through economic manipulation. Their primary tools include:
- Fraudulent financial reports
- Rigged elections
- Payoffs and extortion
- Sex and murder
Modus operandi. EHMs convince world leaders to accept enormous loans for infrastructure projects, knowing that:
- The projects primarily benefit local elites and foreign corporations
- The country will be unable to repay the debt
- This debt burden allows the U.S. to control the country's resources and political decisions
Historical context. The EHM system evolved from earlier forms of imperialism, becoming more sophisticated and less visible over time. It gained prominence after World War II as a way to spread American influence without resorting to military force.
2. Debt as a Weapon: How Countries Are Enslaved Through Loans
"The unspoken aspect of every one of these projects was that they were intended to create large profits for the contractors, and to make a handful of wealthy and influential families in the receiving countries very happy, while assuring the long-term financial dependence and therefore the political loyalty of governments around the world."
Debt trap diplomacy. The EHM system relies on saddling countries with unsustainable debt, which is then used as leverage to:
- Extract natural resources
- Control political systems
- Force privatization of public assets
- Impose austerity measures on local populations
Case studies. The author provides numerous examples of this process in action:
- Indonesia: Massive energy projects that primarily benefited U.S. corporations
- Panama: Infrastructure development tied to political control of the Panama Canal
- Ecuador: Oil exploration deals that devastated indigenous communities and rainforests
Long-term consequences. This system perpetuates global inequality and environmental destruction while concentrating wealth and power in the hands of a small elite.
3. The Corporatocracy: A Global Network of Elites Controlling World Affairs
"The corporatocracy is not a conspiracy, but its members do endorse common values and goals."
Power behind the throne. The corporatocracy consists of:
- Multinational corporations
- International banks
- Colluding governments
Shared goals. This network of elites works together to:
- Maximize profits and shareholder value
- Maintain control over global resources
- Expand their influence over political systems
Revolving door. Key players move seamlessly between:
- Corporate boardrooms
- Government positions
- International financial institutions
This constant interchange of personnel ensures alignment of interests and policies across sectors.
4. Development Aid: A Trojan Horse for Exploitation and Resource Extraction
"Aid is what keeps the Third World in debt to the First."
False promises. Development aid is often presented as altruistic assistance, but in reality it serves as:
- A means of creating markets for Western goods and services
- A tool for gaining access to natural resources
- A way to impose Western economic and political models
The World Bank and IMF. These institutions play a crucial role in the EHM system:
- Providing loans with stringent conditions
- Imposing structural adjustment programs that benefit foreign investors
- Perpetuating debt cycles that keep countries dependent
Hidden costs. The author reveals how development projects often:
- Displace local communities
- Destroy traditional ways of life
- Prioritize corporate profits over genuine social and economic progress
5. The Jackals: When Economic Manipulation Fails, Violence Follows
"When the EHMs fail in this scenario, the jackals are called in to finish the job."
Escalation of force. If a country's leaders resist EHM tactics, more aggressive measures are employed:
- CIA-backed coups
- Assassinations
- Military interventions
Historical examples. The author cites several instances where jackals were deployed:
- Iran (1953): Overthrow of democratically elected Prime Minister Mossadegh
- Panama (1981): Assassination of President Omar Torrijos
- Ecuador (1981): Plane crash that killed President Jaime Roldós
Modern jackals. The author notes that contemporary methods have evolved:
- Increased use of private military contractors
- Drone warfare and targeted killings
- Sophisticated propaganda and disinformation campaigns
6. Personal Journey: From EHM to Whistleblower and Activist
"I was part of a system that made feudalism seem just."
Recruitment and training. The author describes his own path to becoming an EHM:
- Approached by the National Security Agency (NSA)
- Trained by a mysterious woman named Claudine
- Taught to use economic projections as a tool for manipulation
Crisis of conscience. Over time, the author becomes increasingly uncomfortable with his role:
- Witnessing poverty and exploitation firsthand
- Forming relationships with people in target countries
- Recognizing the long-term damage caused by EHM activities
Transformation. Eventually, the author decides to leave his EHM career and expose the system:
- Writing "Confessions of an Economic Hit Man"
- Founding nonprofit organizations
- Advocating for sustainable and equitable development models
7. The Death Economy vs. The Life Economy: A Call for Systemic Change
"The time has come for you — for all of us — to make the choice between a death economy and a life economy."
The death economy. Our current global system is characterized by:
- Reliance on warfare and the threat of war
- Exploitation of finite resources
- Unsustainable levels of debt and consumption
The life economy. The author envisions an alternative based on:
- Regenerative practices that heal damaged environments
- Clean energy and sustainable technologies
- Economic models that prioritize well-being over profit
Individual action. The author emphasizes that everyone has a role to play in this transformation:
- Conscious consumption and investment choices
- Political engagement and activism
- Supporting businesses and organizations aligned with life economy principles
8. Modern EHMs: How Corporations and Governments Exploit Their Own Citizens
"Today's economic hit men . . . are bankers, lobbyists, corporate executives, and others who use the global economy to create a web of control."
Domestic exploitation. The EHM system has evolved to target citizens within developed countries:
- Predatory lending practices
- Corporate subsidies and tax loopholes
- Privatization of public services and infrastructure
Key players. Modern EHMs include:
- Wall Street executives
- Lobbyists and think tanks
- Corporate-funded politicians
Tactics. These new EHMs employ strategies such as:
- Complex financial instruments that obscure risk
- Regulatory capture and revolving door hiring
- Massive marketing campaigns to shape public opinion
The result is a system that concentrates wealth and power while eroding democratic institutions and social safety nets.
9. Resisting the Empire: Strategies for Individual and Collective Action
"We have the power. We must use it."
Personal responsibility. The author emphasizes that every individual has a role to play in creating change:
- Educating oneself and others about the EHM system
- Making conscious consumer and investment choices
- Supporting organizations working for systemic change
Collective action. Broader strategies for resistance include:
- Building alternative economic models (e.g., cooperatives, local currencies)
- Engaging in nonviolent direct action and civil disobedience
- Creating cross-cultural and international solidarity networks
Transforming institutions. The author advocates for:
- Corporate charter reform to prioritize social and environmental responsibility
- Campaign finance reform to reduce the influence of money in politics
- International debt relief and fair trade agreements
By working on multiple levels – personal, community, and systemic – we can create a more just and sustainable global economy that serves all of humanity.
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FAQ
What's The New Confessions of an Economic Hit Man about?
- Personal Journey : The book is a memoir by John Perkins, detailing his experiences as an economic hit man (EHM) who manipulated countries into accepting large loans for infrastructure projects that benefited U.S. corporations.
- Global Economic Manipulation : Perkins reveals how EHMs create debt traps for developing nations, undermining democracy and perpetuating poverty.
- Call for Change : The narrative serves as a warning against unchecked corporate power and advocates for collective action to foster a more equitable world.
Why should I read The New Confessions of an Economic Hit Man?
- Insight into Global Economics : The book offers a unique perspective on how economic policies are shaped by powerful interests, essential for understanding global economics.
- Personal Reflection : Perkins shares his moral dilemmas and journey toward redemption, providing inspiration for self-awareness and responsibility.
- Relevance to Current Events : The themes of corporate greed and social justice are highly relevant today, encouraging critical thinking about systemic issues.
What are the key takeaways of The New Confessions of an Economic Hit Man?
- Understanding EHMs : Perkins defines EHMs as professionals who manipulate countries into accepting loans that benefit U.S. corporations through deception and coercion.
- Role of Corporatocracy : The book highlights how corporations, banks, and governments collaborate to maintain power, prioritizing profit over people.
- Call to Action : Perkins urges readers to recognize their complicity in these systems and take action for a more just and sustainable world.
What are the best quotes from The New Confessions of an Economic Hit Man and what do they mean?
- “Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars.”: This quote encapsulates the book's core premise, highlighting systemic exploitation for corporate gain.
- “The EHMs succeed because we collaborate with them.” : Perkins emphasizes collective responsibility, urging readers to recognize their role in the global economic landscape.
- “Admitting to a problem is the first step toward finding a solution.” : This reflects the need for honesty and transparency as prerequisites for meaningful change.
How does John Perkins define an Economic Hit Man (EHM) in The New Confessions of an Economic Hit Man?
- Definition of EHM : EHMs are individuals hired to convince foreign leaders to accept large loans for development projects, benefiting U.S. corporations.
- Methods Used : Tactics include falsifying economic data, bribing officials, and using threats, creating a cycle of debt and dependency.
- Long-term Consequences : These actions lead to poverty, environmental degradation, and political instability, undermining national sovereignty.
What role do corporations play in The New Confessions of an Economic Hit Man?
- Corporate Interests Drive Policy : Perkins illustrates how corporations influence foreign policy to serve their interests, prioritizing profit over welfare.
- Collusion with Governments : The book highlights the partnership between corporations and governments, creating a corporatocracy that undermines democracy.
- Impact on Global Economy : Corporate greed contributes to global inequality and environmental destruction, necessitating a shift toward sustainable practices.
How does The New Confessions of an Economic Hit Man address the issue of personal responsibility?
- Perkins' Personal Journey : Perkins reflects on his complicity in the EHM system and his desire for redemption, acknowledging his role in exploitation.
- Collective Responsibility : He emphasizes the need for individuals to recognize their role in perpetuating these systems and take responsibility.
- Empowerment Through Awareness : Understanding exploitation mechanisms empowers individuals to effect change and challenge the status quo.
What are the implications of the EHM system for developing countries according to The New Confessions of an Economic Hit Man?
- Debt Dependency : The EHM system traps countries in debt cycles, undermining sovereignty and limiting economic independence.
- Resource Exploitation : EHMs facilitate resource extraction, often harming local communities and the environment.
- Political Instability : The actions of EHMs contribute to political instability and conflict, making countries vulnerable to external pressures.
How does John Perkins suggest we can change the current economic system in The New Confessions of an Economic Hit Man?
- Awareness and Education : Perkins stresses educating individuals about the EHM system's realities and its global impact.
- Collective Action : He calls for grassroots movements to challenge corporatocracy and advocate for equitable economic practices.
- Sustainable Alternatives : Developing sustainable economic models that prioritize social and environmental responsibility is crucial for change.
What lessons can be learned from The New Confessions of an Economic Hit Man?
- Critical Examination of Power : The book encourages questioning the motives behind policies and practices that seem beneficial.
- Importance of Integrity : Perkins advocates for transparency and accountability, emphasizing ethical decision-making.
- Hope for Change : Despite grim realities, Perkins offers hope, believing individuals can contribute to a more just future.
What is the role of economic hit men (EHMs) as described in The New Confessions of an Economic Hit Man?
- Manipulation of Economies : EHMs persuade countries to accept detrimental loans, ensuring U.S. corporate benefits.
- Collaboration with Governments : They work with officials, using incentives and threats to secure compliance with U.S. interests.
- Long-term Consequences : EHMs' actions lead to increased poverty and political instability in affected countries.
How does The New Confessions of an Economic Hit Man define a "life economy"?
- Sustainability Focus : A life economy prioritizes environmental sustainability and resource regeneration.
- Social Justice : It emphasizes social equity, ensuring access to resources and opportunities for all.
- Community Engagement : Encourages collaboration towards common goals, fostering mutual support.
The New Confessions of an Economic Hit Man received mixed reviews. Many readers found it eye-opening and thought-provoking, praising Perkins' insider perspective on global economic manipulation. However, some criticized its lack of concrete evidence and overly dramatic tone. The book was lauded for its accessible explanation of complex geopolitical issues, but some felt it was repetitive and self-aggrandizing. While some readers were inspired by Perkins' call to action, others found his solutions overly simplistic. Overall, the book sparked debate about corporate influence and American foreign policy.
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