John Perkins’ The New Confessions of an Economic Hit Man is an updated and expanded version of his original 2004 bestseller, Confessions of an Economic Hit Man. In this sequel, Perkins provides fresh insights into the role of Economic Hit Men (EHMs) in the 21st century, detailing how their tactics have evolved and expanded. He also reflects on the increasing influence of the corporatocracy and highlights the urgent need for systemic change. The book combines personal anecdotes, case studies, and actionable advice to expose the hidden mechanisms of global economic exploitation.
Core Themes and Content
What is an Economic Hit Man (EHM)?
- Perkins reintroduces EHMs as agents tasked with manipulating developing nations into taking massive loans for infrastructure projects.
- These projects, funded by institutions like the World Bank or IMF, primarily benefit multinational corporations and political elites while leaving the nations burdened with unpayable debt.
- EHMs use inflated economic projections, false promises of prosperity, and outright bribery to secure compliance.
The Evolution of EHMs
- Perkins explains how EHM tactics have become more sophisticated since the publication of his first book:
- The rise of public-private partnerships and privatization has expanded corporate influence.
- New players, such as China, have adopted similar strategies in developing regions.
- Digital surveillance and technological advancements have enhanced the corporatocracy’s ability to control dissent.
Global Case Studies
- Perkins offers updated examples from various parts of the world, illustrating how EHM tactics continue to operate:
- Latin America: Ongoing exploitation of natural resources, with a focus on oil and minerals, and the suppression of indigenous resistance movements.
- Africa: Debt traps tied to infrastructure projects, particularly in countries rich in natural resources.
- Asia: The role of globalization and labor exploitation in countries like Indonesia and Bangladesh.
The Role of the Corporatocracy
- Perkins delves deeper into the concept of the corporatocracy—a coalition of multinational corporations, banks, and governments that work together to shape global policies for their benefit.
- This system prioritizes profit over people, perpetuating inequality, environmental destruction, and political instability.
The Human Cost
- The book emphasizes the devastating impact of EHM practices on ordinary people, including:
- Economic inequality: Widening gaps between rich and poor.
- Environmental degradation: Deforestation, pollution, and climate change caused by unchecked corporate activity.
- Loss of sovereignty: Developing nations lose control over their resources and policies.
Resistance and Hope
- Perkins highlights grassroots movements, indigenous activism, and ethical business practices as sources of hope.
- He shares stories of leaders and communities resisting the corporatocracy and advocating for sustainable development.
A Call to Action
- The book concludes with a plea for individuals to become “life economy” advocates, working to replace the “death economy” driven by exploitation and greed.
- Perkins outlines actionable steps for readers, such as:
- Supporting ethical businesses.
- Advocating for environmental sustainability.
- Educating others about the realities of economic imperialism.
Key Updates and New Insights
The Global Expansion of EHMs
- Perkins discusses how China has become a major player in the EHM system, using loans and infrastructure deals to exert influence in Africa, Asia, and Latin America.
Technology as a Tool of Control
- Advances in technology have enabled more subtle forms of manipulation, such as data-driven surveillance and control over digital communication channels.
The Climate Crisis
- Perkins connects the EHM system to environmental destruction, arguing that the “death economy” is driving climate change and threatening the planet’s future.
The Shift from Covert to Overt Control
- He notes that the corporatocracy has become more brazen in its exploitation, with less concern for public backlash due to weakened checks and balances.
Writing Style
- Perkins writes in a clear, conversational tone, making complex economic and political concepts accessible to a broad audience.
- He blends personal experiences with global case studies, creating a narrative that is both engaging and informative.
- The inclusion of actionable advice makes the book a practical guide for readers seeking to effect change.
Criticism and Praise
- Praise: The book has been lauded for its updated content, relevance to contemporary issues, and its hopeful message. Readers appreciate Perkins’ courage in exposing systemic exploitation and his emphasis on solutions.
- Criticism: Skeptics have questioned the accuracy of some of Perkins’ claims, viewing parts of the narrative as anecdotal or overly simplified.
Key Takeaways
The EHM System is Alive and Well:
- Despite growing awareness, EHM tactics continue to evolve and expand, affecting more regions and industries.
The Corporatocracy Threatens Democracy:
- The concentration of power among corporations, banks, and governments undermines democratic institutions and individual freedoms.
Change is Possible:
- Perkins emphasizes the power of informed individuals to challenge the corporatocracy and advocate for a “life economy” that prioritizes people and the planet.
Awareness is the First Step:
- Understanding the mechanisms of economic imperialism is essential for resisting it and creating a more just and sustainable world.
Conclusion
The New Confessions of an Economic Hit Man builds on the revelations of the original book, updating its message for a 21st-century audience. Perkins provides a detailed exposé of how EHMs and the corporatocracy continue to exploit developing nations, while also offering hope and practical steps for change. The book is both a warning and a guide, encouraging readers to take action against systemic injustice and work toward a more equitable global economy.
