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The New Confessions of an Economic Hit Man summary
An insider's account of imperialism in the modern age
26 mins
Brief summary
The New Confessions of an Economic Hit Man by John Perkins is a memoir that exposes the dark side of the global economy. He reveals the conspiracies of corporations, governments, and banks, and explains how they exploit the people and resources of developing nations for profit.
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The New Confessions of an Economic Hit Man
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Economic Hit Men use debt as leverage to promote US interests around the world.
After World War II, the US government was faced with a question: How can you advance your country’s interests abroad without causing armed conflict and mass casualties? Looked at one way, this almost sounds like a call for global peace. But the US government’s answer was a little more nefarious than that.
By the start of the Cold War in the 1960s, the US had a persuasive way to back up its words: the threat of the atomic bomb. But although such a weapon is incredibly powerful, it’s hardly practical for day-to-day negotiations. The US needed a more effective way to encourage world leaders to promote US commercial interests without risking more bloodshed.
So it added a new tool to its arsenal: Economic Hit Men.
The key message here is: Economic Hit Men use debt as leverage to promote US interests around the world.
An Economic Hit Man, or EHM, is something like a secret agent. But unlike James Bond, an EHM mostly relies on the art of persuasion. Instead of gadgets, an EHM's tools are payoffs, extortion, and misleading economic reports, all with one main purpose: push countries to accept more and more economic aid from international organizations like the World Bank. Then use that debt to influence policy decisions, especially ones related to valuable natural resources like oil. When countries owe money, the US can count on their loyalty, and that also benefits large US corporations and their wealthy investors.
With their doctored financial reports, EHMs convinced leaders that the programs they pushed would help the local economy flourish. If the leader wasn’t aligned with US interests – or was unwilling to cooperate – EHMs would help instigate coups, followed by elections rigged to ensure a more agreeable replacement took over. EHMs also made use of extortion, threats, and whatever else was necessary to achieve US political, economic, and military goals.
But in 1953, a CIA agent named Kermit Roosevelt organized a coup in Iran. The goal was to regain unrestricted access to Iran’s oil reserves. While the coup was successful, the US realized it was playing a dangerous game. People like Roosevelt, who were organizing coups and pressuring leaders through debt, were representatives of the US government. If they were found out, it would be a big problem. The solution? Funnel money to private sector companies, who would then hire and manage teams of EHMs around the world. If efforts went awry, they could only be traced back to these private corporations, and not the CIA or US military.
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What is The New Confessions of an Economic Hit Man about?
The New Confessions of an Economic Hit Man (2016) is an insider’s account of imperialism in the modern age. Drawing on the author’s experiences of working behind the scenes to further America’s interests, it sheds light on how the United States uses debt to manipulate and control smaller nations. Twelve years after its first publication in 2004, enough had changed to warrant a second look at how a new generation of Economic Hit Men have been peddling influence abroad – and at home.
The New Confessions of an Economic Hit Man Review
The New Confessions of an Economic Hit Man (2016) sheds light on the dark world of economic domination and exploitation carried out by powerful corporations and governments. Here's why this book is worth reading:
- It exposes the manipulative tactics used by economic hit men, revealing the real cost of global development.
- Through personal experiences and firsthand accounts, the book uncovers the truth behind major global events and their economic implications.
- The author's courageous revelations and call for a more sustainable and just world are thought-provoking, inspiring readers to question the status quo.
Best quote from The New Confessions of an Economic Hit Man
Einar had hired me as an economist, but I was soon to learn that my real job went far beyond that.
—John Perkins
Who should read The New Confessions of an Economic Hit Man?
- History buffs with a taste for intrigue
- Fans of rip-roaring yarns
- Would-be geopolitical strategists
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The New Confessions of an Economic Hit Man FAQs
What is the main message of The New Confessions of an Economic Hit Man?
The main message of The New Confessions of an Economic Hit Man is the corruption and manipulation behind global economic systems.
How long does it take to read The New Confessions of an Economic Hit Man?
The reading time for The New Confessions of an Economic Hit Man varies depending on the reader, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is The New Confessions of an Economic Hit Man a good book? Is it worth reading?
The New Confessions of an Economic Hit Man is a thought-provoking book that sheds light on a dark reality. Definitely worth reading!
Who is the author of The New Confessions of an Economic Hit Man?
The author of The New Confessions of an Economic Hit Man is John Perkins.
What to read after The New Confessions of an Economic Hit Man?
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