Confessions of an Economic Hit Man
Author(s) John Perkins
Language English
Publisher Berrett-Koehler Publishers
Publication date 2004
Pages 250p
ISBN 0-452-28708-1
OCLC Number 55138900
Confessions of an Economic Hit Man is a book written by John Perkins and published in 2004.
It provides Perkins' account of his career with consulting firm Chas. T. Main in Boston.
Before employment with the firm, he interviewed for a job with the National Security Agency
(NSA). Perkins claims that this interview effectively constituted an independent screening
which led to his subsequent hiring by Einar Greve[1], a member of the firm (and alleged NSA
liaison) to become a self-described "economic hit man". The book was allegedly referred to
in an audio tape released by Osama Bin Laden in September 2009.
According to Perkins, he began writing Confessions of an Economic Hit Man in the 1980s, but
"threats or bribes always convinced [him] to stop."
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 EHM 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, the U.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.
The epilogue to the 2006 edition provides a rebuttal to the current move by the G8 nations
to forgive Third World debt. Perkins charges that the proposed conditions for this debt
forgiveness require countries to privatise their health, education, electric, water and
other public services. Those countries would also have to discontinue subsidies and trade
restrictions that support local business, but accept the continued subsidization of certain
G8 businesses by the US and other G8 countries, and the erection of trade barriers on
imports that threaten G8 industries.
In the book, Perkins repeatedly denies the existence of a "conspiracy." Instead, Perkins
carefully discusses the role of corporatocracy.[3] - November 4, 2004 interview
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.
Controversy and criticism
Some of the book's critics have questioned whether Perkins makes a significant contribution
to the debate on global finance and the development of the Third World. For instance,
columnist Mark Engler of In These Times, has written that "the actual content of Perkins'
admissions proves distressingly thin."[4] According to the New York Times, "the book's
popularity seems driven more by the mix of cloak-and-dagger atmospherics and Mr. Perkins's
Damascene conversion" than by insight into "the larger issue of America's role in emerging
economies."[5]
Columnist Sebastian Mallaby of the Washington Post reacted sharply to Perkins' book[6]:
"This man is a frothing conspiracy theorist, a vainglorious peddler of nonsense, and yet his
book, Confessions of an Economic Hit Man, is a runaway bestseller." Mallaby, who spent 13
years writing for the London Economist and wrote a critically well-received biography of
World Bank chief James Wolfensohn,[7] holds that Perkins' conception of international
finance is "largely a dream" and that his "basic contentions are flat wrong."[6] For
instance he points out that Indonesia reduced its infant mortality and illiteracy rates by
two-thirds after economists persuaded its leaders to borrow money in 1970. He also disputes
Perkins' claim that 51 of the top 100 world economies belong to companies. A value-added
comparison done by the UN, he says, shows the number to be 29. (The 51 of 100 data comes
from an Institute for Policy Studies Dec, 2000 Report on the Top 200 corporations; using
2010 data from the CIA's World Factbook and Fortune Global 500[8][9] the current ratio is
114 corporations in the top 200 global economies.)
Other sources, including articles in the New York Times and Boston Magazine as well as a
press release issued by the United States Department of State, have referred to a lack of
documentary or testimonial evidence to corroborate the claim that the NSA was involved in
his hiring to Chas T. Main. In addition, the author of the State Department release states
that the NSA "is a cryptological (codemaking and codebreaking) organization, not an economic
organization" and that its missions do not involve "anything remotely resembling placing
economists at private companies in order to increase the debt of foreign countries."[10]
Economic historian Niall Ferguson writes in his book The Ascent of Money that Perkins's
contention that the leaders of Ecuador (President Jaime Roldós Aguilera) and Panama (General
Omar Torrijos) were assassinated by US agents for opposing the interests of the owners of
their countries' foreign debt "seems a little odd" in light of the fact that in the 1970s
the amount of money that the US had lent to Ecuador and Panama accounted for less than 0.4%
of the total US grants and loans, while in 1990 the exports from the US to those countries
accounted for approximately 0.4% of the total US exports (approximately $8 billion).
According to Ferguson, those "do not seem like figures worth killing for."[11]
In popular culture
In 2008, The live electronic group Sound Tribe Sector 9 (STS9) debuted a song titled
Economic Hitman (EHM).
In 2009, the documentary film Apologies of an Economic Hit Man featuring interviews with
Perkins, was shown at film festivals around the U.S. The film is a Greek - U.S.
co-production directed by Stelios Kouloglou, and was filmed in 2007 and 2008. Numerous
interview-style statements by John Perkins also appear in the 2008 documentary film,
Zeitgeist: Addendum.
The song Confessions of an Economic Hitman on Anti Flag's album For Blood and Empire makes
several references to the book.
In year 2010 the song A Worldly Kinda Economic Hitman by Ecuadorian band Los Batracios was
written about John Perkins' book.
References
^ http://www.economichitman.com/pix/veracitymemo.pdf by Steven Piersanti, President and
Publisher, Berrett-Koehler Publishers March 7, 2005
^ Otterman, Sharon; Mackey, Robert (2009-09-14). "Bin Laden's Reading List for Americans".
The New York Times. Retrieved 2010-04-30.
^ "Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor
Countries Out of Trillions". Democracy Now: The war and peace report. 9 Nov 04. Retrieved
2009-01-09.
^ Engler, Mark, "Failures of a Hit Man," In These Times, April 18, 2005.
^ Confessing to the Converted, by Thomas Jr., Landon, New York Times, Sec. 3, Col, 1, p. 1,
2006-02-19.
^ a b The Facts Behind the 'Confessions' by Sebastian Mallaby, Washington Post Op-Ed,
2006-02-26
^ The Washington Post.
http://www.washingtonpost.com/wp-dyn/opinion/columns/mallabysebastian/.
^ The CIA World Factbook
^ The Fortune 500 list
^ "Confessions – or Fantasies – of an Economic Hit Man?". US Department of State.
2006-05-10. Retrieved October 21, 2010.
^ Niall Ferguson, The Ascent of Money: A Financial History of the World, Penguin Books,
2008. ISBN 978-0-14-311617-2
Author(s) John Perkins
Language English
Publisher Berrett-Koehler Publishers
Publication date 2004
Pages 250p
ISBN 0-452-28708-1
OCLC Number 55138900
Confessions of an Economic Hit Man is a book written by John Perkins and published in 2004.
It provides Perkins' account of his career with consulting firm Chas. T. Main in Boston.
Before employment with the firm, he interviewed for a job with the National Security Agency
(NSA). Perkins claims that this interview effectively constituted an independent screening
which led to his subsequent hiring by Einar Greve[1], a member of the firm (and alleged NSA
liaison) to become a self-described "economic hit man". The book was allegedly referred to
in an audio tape released by Osama Bin Laden in September 2009.
According to Perkins, he began writing Confessions of an Economic Hit Man in the 1980s, but
"threats or bribes always convinced [him] to stop."
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 EHM 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, the U.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.
The epilogue to the 2006 edition provides a rebuttal to the current move by the G8 nations
to forgive Third World debt. Perkins charges that the proposed conditions for this debt
forgiveness require countries to privatise their health, education, electric, water and
other public services. Those countries would also have to discontinue subsidies and trade
restrictions that support local business, but accept the continued subsidization of certain
G8 businesses by the US and other G8 countries, and the erection of trade barriers on
imports that threaten G8 industries.
In the book, Perkins repeatedly denies the existence of a "conspiracy." Instead, Perkins
carefully discusses the role of corporatocracy.[3] - November 4, 2004 interview
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.
Controversy and criticism
Some of the book's critics have questioned whether Perkins makes a significant contribution
to the debate on global finance and the development of the Third World. For instance,
columnist Mark Engler of In These Times, has written that "the actual content of Perkins'
admissions proves distressingly thin."[4] According to the New York Times, "the book's
popularity seems driven more by the mix of cloak-and-dagger atmospherics and Mr. Perkins's
Damascene conversion" than by insight into "the larger issue of America's role in emerging
economies."[5]
Columnist Sebastian Mallaby of the Washington Post reacted sharply to Perkins' book[6]:
"This man is a frothing conspiracy theorist, a vainglorious peddler of nonsense, and yet his
book, Confessions of an Economic Hit Man, is a runaway bestseller." Mallaby, who spent 13
years writing for the London Economist and wrote a critically well-received biography of
World Bank chief James Wolfensohn,[7] holds that Perkins' conception of international
finance is "largely a dream" and that his "basic contentions are flat wrong."[6] For
instance he points out that Indonesia reduced its infant mortality and illiteracy rates by
two-thirds after economists persuaded its leaders to borrow money in 1970. He also disputes
Perkins' claim that 51 of the top 100 world economies belong to companies. A value-added
comparison done by the UN, he says, shows the number to be 29. (The 51 of 100 data comes
from an Institute for Policy Studies Dec, 2000 Report on the Top 200 corporations; using
2010 data from the CIA's World Factbook and Fortune Global 500[8][9] the current ratio is
114 corporations in the top 200 global economies.)
Other sources, including articles in the New York Times and Boston Magazine as well as a
press release issued by the United States Department of State, have referred to a lack of
documentary or testimonial evidence to corroborate the claim that the NSA was involved in
his hiring to Chas T. Main. In addition, the author of the State Department release states
that the NSA "is a cryptological (codemaking and codebreaking) organization, not an economic
organization" and that its missions do not involve "anything remotely resembling placing
economists at private companies in order to increase the debt of foreign countries."[10]
Economic historian Niall Ferguson writes in his book The Ascent of Money that Perkins's
contention that the leaders of Ecuador (President Jaime Roldós Aguilera) and Panama (General
Omar Torrijos) were assassinated by US agents for opposing the interests of the owners of
their countries' foreign debt "seems a little odd" in light of the fact that in the 1970s
the amount of money that the US had lent to Ecuador and Panama accounted for less than 0.4%
of the total US grants and loans, while in 1990 the exports from the US to those countries
accounted for approximately 0.4% of the total US exports (approximately $8 billion).
According to Ferguson, those "do not seem like figures worth killing for."[11]
In popular culture
In 2008, The live electronic group Sound Tribe Sector 9 (STS9) debuted a song titled
Economic Hitman (EHM).
In 2009, the documentary film Apologies of an Economic Hit Man featuring interviews with
Perkins, was shown at film festivals around the U.S. The film is a Greek - U.S.
co-production directed by Stelios Kouloglou, and was filmed in 2007 and 2008. Numerous
interview-style statements by John Perkins also appear in the 2008 documentary film,
Zeitgeist: Addendum.
The song Confessions of an Economic Hitman on Anti Flag's album For Blood and Empire makes
several references to the book.
In year 2010 the song A Worldly Kinda Economic Hitman by Ecuadorian band Los Batracios was
written about John Perkins' book.
References
^ http://www.economichitman.com/pix/veracitymemo.pdf by Steven Piersanti, President and
Publisher, Berrett-Koehler Publishers March 7, 2005
^ Otterman, Sharon; Mackey, Robert (2009-09-14). "Bin Laden's Reading List for Americans".
The New York Times. Retrieved 2010-04-30.
^ "Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor
Countries Out of Trillions". Democracy Now: The war and peace report. 9 Nov 04. Retrieved
2009-01-09.
^ Engler, Mark, "Failures of a Hit Man," In These Times, April 18, 2005.
^ Confessing to the Converted, by Thomas Jr., Landon, New York Times, Sec. 3, Col, 1, p. 1,
2006-02-19.
^ a b The Facts Behind the 'Confessions' by Sebastian Mallaby, Washington Post Op-Ed,
2006-02-26
^ The Washington Post.
http://www.washingtonpost.com/wp-dyn/opinion/columns/mallabysebastian/.
^ The CIA World Factbook
^ The Fortune 500 list
^ "Confessions – or Fantasies – of an Economic Hit Man?". US Department of State.
2006-05-10. Retrieved October 21, 2010.
^ Niall Ferguson, The Ascent of Money: A Financial History of the World, Penguin Books,
2008. ISBN 978-0-14-311617-2
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