Confessions of an Economic Hit Man

published	December 27th 2005 by Plume
first published	2007
binding	Paperback
isbn	0452287081 (isbn13: 9780452287082)
pages	320
description	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 a...more [close] 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 [close]
date added	10-11-06 edit book

find at: Amazon | Half.com | Barnes & Noble | Abebooks | more...

discuss this book

topics	replies	last activity
I love this book	4	03/29/2007 08:28AM

new topic

groups with this book

friend reviews (0)

To see what your friends thought of this book, please sign up.

lists with this book

This book is not in any lists. Go add it to a list.

other reviews (showing 1-20 of 3645)

Seth rated it:

02/07/08

bookshelves: currently-reading

recommends it for: appropriately skeptical people; not Oliver Stone

if you are not familiar with this book, it is the memoir of a purported "economic hit man" (he says people of this profession call themselves that) who has seen the error of his ways and wants to alert the world to a vast corporate conspiracy that enslaves us in a vicious cycle of global economic hegemony, debt and warfare.

i should say that i think the basic structure of his observations is true - that is, i believe the events he describes, and more or less in his observations of c...more if you are not familiar with this book, it is the memoir of a purported "economic hit man" (he says people of this profession call themselves that) who has seen the error of his ways and wants to alert the world to a vast corporate conspiracy that enslaves us in a vicious cycle of global economic hegemony, debt and warfare.

i should say that i think the basic structure of his observations is true - that is, i believe the events he describes, and more or less in his observations of chains of action. but it gets a little dicey once he tries to weave his experiences together into an encompassing narrative. this is primarily for two reasons: the author is a) a bit of an underdeveloped manchild whose favorite recollections are often of ogling exotic women, and b) a very mediocre writer.

the purported events of his own life suggest that he is highly intelligent. his interior narrative kind of doesn't. he has emotional/intellectual epiphanies that oddly don't match up with the trajectory his career is taking, and he also makes himself out to be too naïve when perhaps a less forgiving admission of his thoughts, motives, and actions lines up much better with the scene he is describing. (example: he falsifies data for economic reports not because it is simply the selfish and convenient thing to do, but because he has a confabulated notion that a scheme he already knows will be deleterious to a developing country is better than nothing, or some abstract alternative.)

nevertheless, i think this is a good book overall for a popular audience. i largely believe that he was in the places he said he was. it makes sense to me that someone with these kinds of quirks and delusions could actually be a successful consultant in developing countries. i know many people who are much smarter that do such work, but they also don't spend thirty years mucking up their lives in this shit before they go hippie, write books about the powers of lucid dreaming, and then cash in on a saucy tell-all volume.

i'll reiterate: i'm glad he wrote it, and i'm glad i'm reading it. where it goes astray is in his rationalizations of his own role, and his rationalizations of how the whole global economy works. i already discussed the former, so i'll just say a bit about the latter. in a phrase, he puts too much intentionality into it all. he believes that american corporations rule the world nearly absolutely, and that they intentionally structure the global political economy to work by coercing people into hiring them to do big contracting jobs in developing countries wherein debt spending in the developing country assures that government's pliability in years to come (this is the role of the hit man - to shill out these golden manacles around the world). the only exceptions come when a maverick national leader flouts this idea, whereupon the "jackals" (the cia, of course) will try to underhandedly assassinate the offending parties (cue the oliver stone director's credit). if this fails, then it is time to bring out the full military to invade the country.

these things do happen (more or less, in the broadest of strokes), but they are not nearly the whole story. there are far too many kinds of corporations, institutions, and economies for it to play out so neatly. a quick example: the companies he names who dictate the rules of this game are the contractors made famous by our current iraq debacle: halliburton, brown & root, etc. halliburton is the 100th largest corporation in the us, about 1/15 the size of wal-mart, which is #1 in terms of revenue. granted, halliburton is party to some nasty things (and so is wal-mart, though not so much regarding contracting third world infrastructure), but it seems manifest that only a simplistic mind would imagine a world in which a few guys could sit around in a room and scheme up what we see happening across the globe in about 200 countries. while he has quick and interesting accounts of u.s. fuckups like iran, they don't come close to doing justice to the kind of complexity we see out there. to perkins, things look the way they do because someone wanted them to. to me, they look the way they do because power has a way of finding the path of least resistance to its accumulation, and as such, people can have amazingly disproportionate power without holding a fucking clue as to what is going on, and odd, unscripted things happen much more often than perkins' james bond theory of global economic development allows.

i've now taken too long examining a somewhat facile argument. suffice to say, it's an interesting document, also with a lot of unintended humor. if anything, it just goes to show how fallible many of the people are who perform crucial work in structuring economies around the world.

note: i have only read a portion of this book. but i do feel qualified to comment. i will elaborate if i find anything else of note as i go along....less

Like this review? yes

2 comments

Scott rated it:

(review of isbn 0000000000)

01/27/08

bookshelves: 2008

Read in January, 2008

recommends it for: Anybody who thinks Capitalism is a good thing.

Here's what banks and international corporations, with the aid of governments do:

First, you take a resource rich country, and aside from maybe Tuvalu (an island nation that is about to disappear into the ocean), all countries are resource rich in one way or another. Next, you send a speculator, or, what this book refers to as an economic hitman, in to the country to resource the amount of economic growth the country can support. The economic hitman, or EHM, then creates a report with grossly...more Here's what banks and international corporations, with the aid of governments do:

First, you take a resource rich country, and aside from maybe Tuvalu (an island nation that is about to disappear into the ocean), all countries are resource rich in one way or another. Next, you send a speculator, or, what this book refers to as an economic hitman, in to the country to resource the amount of economic growth the country can support. The economic hitman, or EHM, then creates a report with grossly inflated projections for what the country can handle. They then submit this report, with collusion from the government that runs the country in question, to an international lending institution like the World Bank, which bestows a loan that is far larger than needed. This is something like having a bank give you a loan for a Jaguar when all you really need is a Hyundai.

Naturally, banks treat countries much the same as they treat individuals. You will pay or you will, well, pay. The end result is that the country in question is now in a tremendous amount of debt to American banks who wait patiently, like Mafia dons, for that moment when they can call in a favor, say, when the price of oil goes to high and we need to somebody to sell it to us cheap. It transforms a country from a poor, underdeveloped nation into a poor, overdeveloped nation that is indebted, and therefore owned, by the United States. That's how they build empires in the 20th century.

And why? So that we can continue to have a consumer goods-based economy. So that executives can make extraordinary profits while people in poor countries all over the world starve to death or lack basic necessities because their governments have to devote 50% of their GNPs to paying interest. Because that's what keeps the economy going. The implication is that we're all guilty in some sense, even though I don't buy the charge of guilt since most people are so brainwashed by the media that they have no idea that globalization actually works this way.

Most people are decent and do not want to see others to suffer. There are justifications but most importantly there is just misinformation. Nobody knows until way after the fact most of the time that dictators in foreign countries are propped up by our government. Nobody knows these things because they are not told. Media outlets are owned by the same major corporations so it's no wonder people go along with the notion that globalization is helping the world become a better place. And then when people attack us, we are surprised and hurt and it makes it even easier to whip the public into a frenzy to go after the Taliban or whoever happens to be the villain of the month (or, more accurately, the government-sponsored tyrant that has either stopped cooperating or has out-grown his usefulness).

Empires always fail. Ours will. The Chinese, Singaporians, Japanese and Koreans are buying massive amounts of our debt to keep our economy afloat so that we can continue to buy their manufactured goods. One day, perhaps, they will call in their favors, and poof, there goes the American empire.

The best thing one can do is find the myriad of small ways to resist the behaviors encouraged by modern American capitalism. Buy less, eat less, read more, turn the tv off, think locally, etc. It's easier said than done as I discover day after day. Sometimes I forget because I have bills of my own to pay. Sometimes, there just aren't very many apparent options. Sometimes, I just get lazy and want to watch a baseball game or play X-Box. I'm no better. But I hope to be....less

Like this review? yes

add a comment

Myles rated it:

(review of isbn 1576753018)

01/13/08

Read in January, 2008

Certainly this is an important book, and more of its kind are really needed.

I recalled a good essay about America's missing literature of empire, which may be found here:

http://www.laweekly.com/la-vid...

"Few stories could be more compelling than that of Americans building an empire in the name of freedom, yet for every novel that tackles this subject — for instance, Henry Bromell's fine, un...more Certainly this is an important book, and more of its kind are really needed.

I recalled a good essay about America's missing literature of empire, which may be found here:

http://www.laweekly.com/la-vid...

"Few stories could be more compelling than that of Americans building an empire in the name of freedom, yet for every novel that tackles this subject — for instance, Henry Bromell's fine, undervalued Little America, about a CIA brat's inquest into his father's role in the Middle East — we have hundreds of tired literary novels about suburban adultery, dysfunctional families or growing up zany in the South."

That essay was about our missing novels of empire, but something similar can be said of the missing non-fiction that would explain how our empire works and give a full accounting of the damage it has done. That's not really what John Perkins set out to do with "Confessions of an EHM". Instead, it's a personal history of how -- almost by accident -- John Perkins ended up inside the corporatocracy. It's a story about guilt.

Starting in 1971, Perkins jetted from one poor country to the next, working to justify big infrastructure projects that keep foreign countries under a mountain of debt, and thus easily controlled and manipulated. One consequence of this game is enriching powerful companies like Bechtel and KBR that are in the game of international development, and the oil companies and others who are in the game of international resource exploitation. Of course these companies are intimately connected to the levers of power (especially the Bush family).

I suppose that tales of fraud, assassinations, bribery, and of finding hot blondes for sex-addicted Saudi princes didn't really surprise me. Even the way that Perkins himself was recruited is straight out of a spy novel (they found an attractive woman who met with him in her apartment, and then she disappears like the wind). After Perkins quit the business in 1981 he was repeatedly bribed and threatened not to talk about what he had done. He went on to found a company that worked on alternative energy. It wasn't until the "war on terror" and the war against Iraq that he finally put his words to paper.

My main criticism of the book is the writing. Perkins isn't a great writer, and he repeats himself often. He expresses a lot of guilt and at times self-hatred -- almost like you're sitting in on a disorganized therapy session. He kept at the game for 10 years, but according to this book he had these doubts from day one. You almost feel sorry for him, and I think he would like you to feel sorry, except that would be forgetting the real victims.

In the aftermath of his book being published, it's not clear why the powers that be were so worried about John Perkins telling his story. It got some attention, which faded. I think Mr Perkins hoped the book would stop people from accepting simplistic answers about why "they" hate "us", and maybe get Americans to do something to change the system. But I think he mostly wrote this book to get the load of guilt off his chest. If there is anything that is missing more than our literature of empire, it's our collective conscience about it. Count John Perkins as one of the lonely -- but flawed -- voices of conscience....less

Like this review? yes

add a comment

Craig rated it:

07/09/08

Read in June, 2006

Having arrived in Belgrade in Serbia late yesterday, I had the opportunity to do quite a bit of reading on this 18 hour journey around the world. At home, I don't do as much reading as I used to and certainly not as much as I would like. A good book is always an adventure.

When I'm traveling, I set reading goals for myself. I know that sounds crazy, but I have stacks of books that I am desperate to get through. So many amazing stories. I try to read a mix of genres, but I prefer those books t...more Having arrived in Belgrade in Serbia late yesterday, I had the opportunity to do quite a bit of reading on this 18 hour journey around the world. At home, I don't do as much reading as I used to and certainly not as much as I would like. A good book is always an adventure.

When I'm traveling, I set reading goals for myself. I know that sounds crazy, but I have stacks of books that I am desperate to get through. So many amazing stories. I try to read a mix of genres, but I prefer those books that cause me to shift my thinking about the world. I like books that make me think, that make me angry, and that make me want to act and change my life or change the world.

The book I read coming over is called “Confessions of an Economic Hit Man” by John Perkins. This is one of the scariest books I've read in a while and talk about making you angry! It strikes me as having quite a bit of hyperbole, but if even half of what this guy writes is true, it sure explains why so many people feel as they do about the impact of America around the world. One of my mentors, Lynne Twist, who authored “The Soul of Money,” wrote an excellent cover note for the book jacket.

This is essentially an autobiography of a normal middle-class guy, profiled and recruited by the National Security Agency (NSA), trained as what he calls an economic hit man or EHM, and then hired as a corporate economist whose job is to assist in making billion dollar loans to resource-rich developing countries that have much to offer the United States. Working for the “corporatocracy,” his career skyrockets and he is influential in key world events in Saudia Arabia, Panama, Iran during the hostage crisis, Africa, Asia, Latin America, North America, and throughout the Middle East.

His book is an intriguing tell-all tale of corruption, greed, influence-peddling, and just how far our “leaders” will go to sacrifice the needs of many to increase the wealth and power of a few. It should be required reading for anyone with an American passport, anyone who believes that democracy should be about freedom and justice, anyone who wants to understand the impact of globalization and capitalism, anyone who is interested in preventing the needless deaths of 24,000+ people every day just because they have no food to eat.

It certainly fills in some of the gaps in our Americanized view of history and it deals with events recent enough for someone like me to remember and to have what I was taught (or told) challenged. It feels very relevant. Frankly, some of his observations and predictions about what the future holds, particularly in the Middle East, have already come true (he first published the New York Times bestseller in 2004). It scares the heck out of me what else might be coming. I'd encourage you to pick up the book. Read a few chapters at a time and then watch the news. I can almost guarantee that you'll have questions coming to mind that perhaps you'd never considered.

Then, I hope you'll think about what you can do to change things, to make a difference where and in how you live. Its up to each of us to take that first step....less

Like this review? yes

add a comment

Mona rated it:

04/16/07

bookshelves: life-stories, nonfiction

Read in March, 2007

Confessions of an Economic Hit Man, while purportedly the author's memoir and hard-hitting expose of his work in the "corporatocracy", reads more like a flat and repetitive mass market thriller. In the 1970s, John Perkins began working for MAIN, an international consulting firm, as an economist who developed inflated projections of development in poor countries, so that they would then become dependent on richer countries like the United States. As Perkins explains, the "corporato...more Confessions of an Economic Hit Man, while purportedly the author's memoir and hard-hitting expose of his work in the "corporatocracy", reads more like a flat and repetitive mass market thriller. In the 1970s, John Perkins began working for MAIN, an international consulting firm, as an economist who developed inflated projections of development in poor countries, so that they would then become dependent on richer countries like the United States. As Perkins explains, the "corporatocracy" consists of international corporations, banks, and governments that utilize various financial and political resources to enforce and maintain the idea that all economic growth is beneficial, and futhermore, is most beneficial to those that instigate, while those who do not should be exploited. To illustrate this idea, Perkins explains his travels and work in countries such as Panama, Indonesia, and Ecuador. He also details his transition from economic hit man to concerned American citizen.

For all I know, Perkins' account may be one-hundred percent true, but there were several things which I did not find convincing. He presents the idea of the corporatocracy as a novel concept, whereas anyone paying the slightest attention to world politics and history over the past fifty years is most likely already aware of the trend of a few governments, banks and corporations controlling the global arena and the victimization of poorer populations. It is difficult to trust Perkins-the-narrator, especially since he tends toward cloak-and-dagger dramatizations and also because he made a living for many years from deception and exaggeration. He claims that he was intimately involved in events such as the Saudi Arabian Money-Laundering Affair, but many of these claims are not supported by outside evidence. I also did not find Perkins to be a very sympathetic character. He continually expresses his frustration with his job in one sentence and then justifies his choice to stick with it in the next by painting a picture of himself as a victim.

I don't find much of Perkins' account to be reliable, but as a semi-fictional account, more in the line of a mass-market thriller loosely based on reality, Confessions of an Economic Hit Man makes important points about the ways in which the corporatocracy works to uphold the status quo.
...less

Like this review? yes (7 people liked it)

1 comments

Chris rated it:

06/15/08

Read in May, 2008

A so-so, quick-to-read account of a recovering member of the murky, semi-visible world of "Economic Hit Men", by the author's own description a community of well-paid but morally bankrupt consultants working in the service of multinational corporations, global economic development institutions (basically IMF and the World Bank), and US interests.

The book provides a not-bad series of short, episodic chapters, but at the same time there's lack of arresting, thematic focus in the na...more A so-so, quick-to-read account of a recovering member of the murky, semi-visible world of "Economic Hit Men", by the author's own description a community of well-paid but morally bankrupt consultants working in the service of multinational corporations, global economic development institutions (basically IMF and the World Bank), and US interests.

The book provides a not-bad series of short, episodic chapters, but at the same time there's lack of arresting, thematic focus in the narrative. Early on, John Perkins at first casts the book as a cathartic, repentant tell-all of his lifelong involvement in the EHM world--in his eyes, serving amoral corporate interests at the expense of everyday people developing countries. Perkins founds his professional motivations as an adult in class and sexual insecurities experienced as a youth. Following this psychological backdrop, the narrative attempts to establish a mood of sinister intrigue, probably at the behest of his publisher. His early professional development comprises a series of contacts with mysterious figures who seem to "have plans" for him--in particular, the femme fatale he calls "Claudine"--all the elements adumbrating a conspiracy one would find in a spy novel.

These narrative devices are more or less left in the dust in the middle of the book, and the story becomes a series of short, discrete chapters, almost like diary entries. The content of these episodes is admittedly intriguing-- apparently Perkins, in his role as an economist justifying energy infrastructure projects in developing countries had many chances to meet face-to-face with some major movers and shakers--including heads of state (most notably, Omar Torrijos of Panama, whom he suggests was assassinated by the powers that be). The vignettes usually include some illustrative anecdotes of the rottenness of living in a poor, exploited developing country, obligatory per-chapter condemnations of the global 'corporatocracy', and the occasional device of using conversations from his personal and professional relations to keep up the appearances of the confession genre. Unfortunately, Perkins did not succeed in developing a compelling story--the book is rather like a mosaic that fails to depict an identifiable or useful portrait--either of the man, or more importantly, of the corporatocracy he is purportedly exposing.

The book is not a complete dud--and in a way, it was useful to me in my exploration of the less-pretty parts of US foreign policy history (see my review of Stephen Kinzer's Overthrow). Because it's a really fast read (at a good pace one could read it in a day or two), it's probably worth it if you're interested in gaining a passing acquaintance with a contemporary delineation of that most ancient and basic of historical themes-- of the powerful fucking over the less powerful.

...less

Like this review? yes (1 person liked it)

1 comments

Chris rated it:

02/08/08

bookshelves: current-events, politics

Read in January, 2006

This book probably would have enraged me if I hadn't already more or less known what it was talking about. As it was, I was resigned and depressed.

The book is a short autobiography of an Economic Hit Man (EHM) who saw the error of his ways. The idea of the EHM, as he describes it, is to manipulate the governments of developing nations to accept huge loans from the IMF and the World Bank based on inflated projections of future income, under the theory that they would experience huge economic ...more This book probably would have enraged me if I hadn't already more or less known what it was talking about. As it was, I was resigned and depressed.

The book is a short autobiography of an Economic Hit Man (EHM) who saw the error of his ways. The idea of the EHM, as he describes it, is to manipulate the governments of developing nations to accept huge loans from the IMF and the World Bank based on inflated projections of future income, under the theory that they would experience huge economic gains from the projects - things like electrical grid upgrades, roads, dams and the like. These nations would them become indebted to the United States and forced to give business to US corporations, thereby effectively putting that nation under US control. He calls it the Corporatocracy, and he was a part of it. He traveled around the world to manipulate cash-strapped world leaders into signing their nations over to the control of us corporate interests.

He describes himself as one of the earliest generations of EHM, the ones who knew exactly what they were doing. People after him honestly believed that they were trying to help these beleaguered countries, but he knew better. He knew full well what he was doing, and after a while he got tired of it and quit the life. And, after much pondering, wrote the book.

It's considered the softest method of empire-building. Take a country that needs money to help its people, and arrange so that the government has to spend upwards of 50% of its GNP repaying loans. The people get nothing, a few rich leaders become richer, and US corporations spread further out into the world. All forwarding the cause of US economic interests. For Americans, it means cheaper gas, food and raw materials. For the corporations involved, it means higher and higher profits. For the people of the developing countries targeted, it means poverty and disenfranchisement.

The EHMs don't always succeed, though - remember Panama? We had the canal, and made lots of money off it. Until the leader of Panama, in the 70's, decided to take it back. He knew what the EHMs were up to, and wouldn't have any part of it. When the EHMs fail, the jackals come in and people start dying in "mysterious" plane crashes. General Omar Torrijos was replaced by Manuel Noriega, who was in our pocket, but not quite far enough. We made him up to be the Hitler of South America, invaded Panama without cause (see, Iraq is not a new thing) and took him back to the US. The result? The canal is effectively back under US control, and any advances that Torrijos might have made were gone.

This is not a happy book, and it's pretty likely to piss you off. It's not about the US government, mind you - it's about US corporations assisting the government in its imperial ambitions. It's about the marriage of economics and governance and its dark, dark offspring.......less

Like this review? yes

add a comment

Mark rated it:

01/02/08

Read in January, 2006

"Confessions of an Economic Hit Man" by John Perkins is a compelling first hand account of U.S. empire building over the past 40 years. Amazing stuff detailing a general strategy of convincing foreign governments to take on huge amounts of debt from the IMF and World Bank in order to fund massive electricity and infrastructure projects benefiting US Corporations such as Bechtel and Haliburton. The Economic Hit Men would use econometric witchcraft to justify ridiculously unrealistic gro...more "Confessions of an Economic Hit Man" by John Perkins is a compelling first hand account of U.S. empire building over the past 40 years. Amazing stuff detailing a general strategy of convincing foreign governments to take on huge amounts of debt from the IMF and World Bank in order to fund massive electricity and infrastructure projects benefiting US Corporations such as Bechtel and Haliburton. The Economic Hit Men would use econometric witchcraft to justify ridiculously unrealistic growth projections which were ultimately unrealized, leaving the debtor nations unable to pay off the debts. As a result, the US gov't would demand concessions such as access to natural resources, military cooperation and political support. Some nations had uncooperative leaders which resulted in a number of CIA assinations. Anyways, there's more to it but you get the idea. Overall a good read although I have to admit it ultimately only confirmed my prior suspicions. This book has, in turn, got me interested in Public Choice theory which basically goes like this :

The government is run by politicians who, like most people, pursue their self-interest (not always rationally). When benefits are concentrated (to those in power and/or their associates) and costs are spread thinly (over the taxpayers), there are incentives for politicians to seek transfers that benefit themselves directly. Moreover, the present structure of our democracy makes it such that the costs are often too high for the public to become informed enough to prevent such behavior. As a result the voter is rationally ignorant. All of this is compounded by the fact that government has a monopoly on force which often enables politicians to literally "get away with murder." For this reason, I think people like Perkins are either squashed before they can tell their story or couched as conspiracy theorists in an effort to discredit them.

Actually I went to a book signing with Perkins a few weeks back in the city. He gave a little talk and read some passages from the book. It was ok . . . the people in the Q&A were a bit ridiculous and Perkins himself was very preachy which was annoying. When I first started reading the book I was skeptical and resistant due to its generally anticapitalist overtones. However, setting that aside, I found that much of the book coincides with my understanding of economic theory (particularly international growth and development), political theory, public choice theory and history. But still, the book ends up muddled by his failure to properly identify causes and consequences. He seems to condemn all economic growth and capitalism in general which of course is wrong-headed. Hopefully you will see right through this nonsense so, in spite of its faults, the book is definitely worth reading and is generally enlightening....less

Like this review? yes

add a comment

Ilya rated it:

03/21/08

Read in March, 2008

recommends it for: ahren

the main point of the book is to describe the way the US uses its economic power to seduce developing countries into debt with promises of rapid growth, a debt it then uses for political leverage. the author rejects the notion of a hierarchical mass conspiracy, and instead describes the way those in power, whether economic or political, collude through a combination of relatively small decisions to perpetuate and enhance the power of American empire.

i have mixed feelings after reading this ...more the main point of the book is to describe the way the US uses its economic power to seduce developing countries into debt with promises of rapid growth, a debt it then uses for political leverage. the author rejects the notion of a hierarchical mass conspiracy, and instead describes the way those in power, whether economic or political, collude through a combination of relatively small decisions to perpetuate and enhance the power of American empire.

i have mixed feelings after reading this book. on the one hand, i am impressed that at least someone in political power gives this much thought, however short-sighted, to using international institutions in order to establish American dominance in the world. on the other hand, i suppose i always wanted to believe that our dominance is at least partially unselfish, and that with the spread of liberalism, free markets, and trade around the world, the ability to abuse power would gradually diminish.

a credible argument can be made that, first and foremost, it is the state's responsibility towards its citizens to promote the country's interests around the world. this is similar to the way a CEO is responsible to the company's stockholders to increase the value of their shares. i think the model works, but only when the returns are calculated over the span of years and decades rather than the quarterly earnings that lead to short-term profit. does our system of government inherently limit the ability of leaders and goverments to act for the long-term?

the apparent heavy-handedness of the american approach, and the ruthlessness is precisely what creates such a backlash against us in the world. assassinating or deposing democratically-elected leaders in south america is a particularly abhorrent case (their communist tendencies notwithstanding).

i was expecting an anti-capitalist rant with some conspiracy theories thrown in, especially after the preface. however, the book feels like an honest account of the author's career and path to figuring out how to live. his regrets appear genuine. his aversion to the system of american empire is clear, but his case does not feel overstated, as it might be when presented by michael moore for example. aside from a few theatrics around his induction into the "economic hitmen" club, and the potential threats against him for writing this book, most of the stories simply describe american activity in developing countries which he was involved in.

in short i would recommend this book for a healthy dose of skepticism it provides about the notion that free trade is improving the lot of the underprivileged around the world. ...less

Like this review? yes

add a comment

Alif rated it:

02/02/08

bookshelves: politics

Saya lupa kapan saya pertama kali baca buku ini. Sebenarnya sebelum buku ini dipasarkan di Indonesia saya sudah sering baca review tentang buku ini dari beberapa orang di internet. Namun, hingga buku ini sudah dipasarkan di Indonesia, saya belum juga tertarik untuk membaca buku ini, karena saya pikir buku ini paling hanya sekedar buku yang ditulis oleh orang yang hanya ingin mencari sensasi dengan mengumbar berbagai macam hal yang menurutnya 'rahasia' kemajuan ekonomi Amerika (atau istilah penul...more Saya lupa kapan saya pertama kali baca buku ini. Sebenarnya sebelum buku ini dipasarkan di Indonesia saya sudah sering baca review tentang buku ini dari beberapa orang di internet. Namun, hingga buku ini sudah dipasarkan di Indonesia, saya belum juga tertarik untuk membaca buku ini, karena saya pikir buku ini paling hanya sekedar buku yang ditulis oleh orang yang hanya ingin mencari sensasi dengan mengumbar berbagai macam hal yang menurutnya 'rahasia' kemajuan ekonomi Amerika (atau istilah penulis adalah corporatisms).

Ketertarikan saya muncul manakala pada suatu hari di bulan Ramadhan (di tahun yang sama buku ini diterbitkan), saya bertemu dengan Dr. Ahmad Riawan Amin (Dirut Bank Muamalat). Beliau merekomendasikan saya untuk mebaca buku ini. Pembicaraan kami saat itu sebenarnya berawal seputar perkembangan perbankan syariah di Indonesia dan juga menyentuh bagaimana Bank Muamalat bisa bangkit dan semakin tumbuh dan berkembang bahkan menjadi salah satu perbankan terbaik di tanah air setelah sebelumnya sempat terpuruk bahkan sampai pada tahap modal pun hampir habis. Beberapa hari setelah pertemuan itu saya memburu buku ini.

Yang saya dapatkan dari buku ini adalah, bagaimana bangunan ekonomi kapitalis sudah direncanakan dengan sangat matang bahkan (bayangkan) sebelum Jawa Barat memiliki jaringan listrik PLN. Dan perencanaan atas sistem itu terus berkembang dan berkembang bahkan pada tahap di mana orang-orang yang menjadi penyokong utama gerakan ini (istilah penulis Economic Hit Man (EHM)) tidak sadar bahwasanya mereka telah terekrut dan bergerak sesuai dengan perencanaan para generasi awal EHM. Mereka datang ke suatu negara berkembang dengan dalih membangun perekonomian negara itu namun sebenarnya mereka menjerat negara itu dalam jerat ekonomi yang tidak mungkin dilepas. Sehingga pada puncaknya negara berkembang tersebut dapat tunduk pada ambisi kepentingan global corporatisms meski harus mengorbankan rakyat mereka sendiri.

Dalam bab ini penulis juga sedikit membahas pengalaman penulis saat masuk ke Indonesia. Cukup menarik. Penulisan buku ini mungkin lebih mirip seperti catatan pribadi. Metode penulisannya cukup santai untuk membahas sebuah isu yang besar (bagi yang sadar kalau ini memang masalah yang besar)

Mampang, 30 Januari 2008...less

Like this review? yes

add a comment

Krys rated it:

07/21/08

Read in July, 2008

This book was recommended to me, and really after the amount of conventions I've attended and documentaries I've watched about related topics, this seemed like a natural progression.

It's not that what Perkins is saying is bad. In fact I whole-heartedly agree with his economic world-view (minus the occasional new age-y remark), but he is a horrible writer.

Even after he has made the point that we are bleeding the 3rd world dry, he continues to bludgeon his readers with it. With each deal s...more This book was recommended to me, and really after the amount of conventions I've attended and documentaries I've watched about related topics, this seemed like a natural progression.

It's not that what Perkins is saying is bad. In fact I whole-heartedly agree with his economic world-view (minus the occasional new age-y remark), but he is a horrible writer.

Even after he has made the point that we are bleeding the 3rd world dry, he continues to bludgeon his readers with it. With each deal struck with a 3rd world nation, he says something like, "But really we were just setting them up for failure, and when they were in too much debt to pay back, we'd demand our pound of flesh." In fact he uses 'pound of flesh' just about every chapter. It gets old. We get the point the first time.

Even worse, especially if you look up criticisms on the validity of the book, is that Perkins plays up his own role in all this. For all of the research he says he's done, evident in all of the footnotes, he connects webs of events and claims to know the thoughts of newer EHMs since his retirement from the field without so much as a single reference. I don't doubt that we are taking advantage of the third world. But I also question how cloak and dagger the effort is, and most of all, how involved he really was.

Half the novel is him pleading for sympathy (apparently just for his own benefit) because he feels guilty. But the more he talks about how he KNEW what he was doing was bad, but that he did it anyway, the more I think he's just a chump and the more I don't care about him as the character of the narrative he's telling. I'd at least be interested in his book if the facts were interesting. But except for the random tidbits (3rd world debt erasing only comes at the cost of making trade agreements that still cripple the 3rd world) all the most interesting material is not validated. In fact the majority of the research talks about tangential topics.

A complete waste of time for anyone who has even the slightest understanding of the global economic and political system....less

Like this review? yes

add a comment

David rated it:

06/07/08

bookshelves: currently-reading

Read in June, 2008

recommended to David by: Devon Brady
recommends it for: conspiracy theorists

I listened to Confessions of an Economic Hit Man as an audiobook. The book is John Perkins' story of his rise through and eventual repudiation of the "corporatocracy" -- the American big-business collaboration between oil and engineering companies, the World Bank, IMF, and U.S. intelligence and military -- as an employee and eventual partner in the Chas. T. Main engineering and consulting firm. I felt like I should have liked this book more than I did.

Perkins tells his s...more I listened to Confessions of an Economic Hit Man as an audiobook. The book is John Perkins' story of his rise through and eventual repudiation of the "corporatocracy" -- the American big-business collaboration between oil and engineering companies, the World Bank, IMF, and U.S. intelligence and military -- as an employee and eventual partner in the Chas. T. Main engineering and consulting firm. I felt like I should have liked this book more than I did.

Perkins tells his story chronologically, starting with his experiences as the child of teachers at an elite private school, going through his college bar fights, Peace Corps stint, and eventual hiring by Main and training as an Economic Hit Man (EHM). I had a hard time believing the part where he describes his initiation into the ranks of EHMs by a mysterious and beautiful teacher. If you don't believe that part, all you're really reading is the story of a guy who juked some economic forecasting reports so that his company would get bigger engineering contracts.

I guess what really hurt this book in my eyes is that I couldn't identify with Perkins. Outside of his own story, it was no big news to me that we'd cut a Faustian deal with the Saudis and screwed over the Indonesians, Panamanians, Ecuadorians, and Colombians. Perkins himself is supposedly tortured by the knowledge of his wrongdoing, but continues to do it for decades nonetheless. Poor guy. I felt like his embarrassingly earnest list of ways for us to "get involved" at the end of the book left out an explanation of how he was returning his ill-earned gains (and the revenue from this bestselling book) to the poor people of the world he'd exploited for most of his life.

If you're walking around blissfully unaware of the extent of the malfeasance that goes in the U.S. public and private institutions in the name of nothing more than filthy lucre, this book will blow your sweet little mind. If you've already read your Noam Chomsky, Howard Zinn, and Greg Palast, John Perkins won't have a lot more to tell you. ...less

Like this review? yes

add a comment

Maura rated it:

02/10/08

bookshelves: economics, non-fiction

Read in January, 2006

I'd had high expectations of this book and was very disappointed--mostly because I wasn't able to get past the fact that Perkins is a chauvinistic pig who I hated from the beginning til the end. He must have thought the fact that he later wrote a "confessional" about being a chauvinistic pig would make his readers forgive him or feel sorry for him, but that definitely wasn't the case for me. Also, he writes like a horny 10th grader--very poorly, and in the middle of discussing serious...more

Like this review? yes (2 people liked it)

5 comments

Dima rated it:

08/27/07

bookshelves: historyandrelevance

Read in April, 2006

recommends it for: anyone

John Perkins should be questioned about his claim that he was actually employed to become an Economic Hit Man. Being a seasoned writer, John also has a keen way of telling a story. For the writing part in this book (http://www.economichitman.com/... he should get 5 stars, if not 6.

But, his story I find unconvincing, though highly interesting. If it was fiction, then it would've been just perfect. But since it had, what he claims, ...more

Like this review? yes

add a comment

Amanda rated it:

02/27/08

Read in December, 2007

Confession/Disclaimer: I dropped the book at page 101

I enjoyed sinking into this book - until Perkins became just a touch to self righteous. Throughout the book he seemed pretty honest with his presentation of his own understanding of international affairs (admitting naivety at times and identifying critical moments)... but he seemed a little too self oriented at right about Pg 57 with this share:

"On my last night in Indonesia, I awoke from a dream, sat up in bed and switched on...more

Like this review? yes

add a comment

Jeffrey rated it:

09/09/07

Read in August, 2007

Confessions of an Economic Hit Man (EHM) is supposed to motivate us to recognize the dangers of wide open capitalism on the world economy. The author even includes his suggestions as to how to carry forward his ideas.

Perkins was once an EHM. He used his influence and his economic projections to convince developing countries to invest in huge development projects, built by US companies, of course, which would cause the country to go into debt. When the economic forcasts fall short, and repaym...more

Like this review? yes

1 comments

Gabriel rated it:

04/12/08

Read in April, 2008

recommended to Gabriel by: Michael Scott

This book's content and concept was interesting... the author participated in the USA's "march toward global empire" by shackling less developed countries with billions of dollars of debt. These billions of dollars are then funneled directly back into the American economy in the form of huge contracting deals to engineering corporations like Haliburton, Bechtel, and the once powerful MAIN. The debt (which the U.S. never really expects the LDC to repay) serves as a form of leverage fo...more

Like this review? yes

1 comments

Naila rated it:

01/17/08

Has a copy to sell/swap — Read in January, 2008

recommends it for: people who don't read

This is currently the worst book I have recently read. It really makes me really wish that A People's History of the US was the standard Public School history text book. If you have never read a newspaper, book, or left your house and never plan on doing the above mentioned activities, then maybe you should read this book, it really is a quick read (all you really need is the last 3 chapters, if that). Not only was it terribly written, the author focused way to much on his underdeveloped self...more