The New Confessions of an Economic Hit Man

Interesting, Enlightening, Amazing! I have Not finished my reading; this is how I feel so far.

I was fortunate to meet John Perkins in 2011 when he spoke at a Maui event hosted by my employer. As the event emcee, I worked with him backstage to prepare his introduction. I mention this before getting to the book, because it goes to his authenticity. Although he's a top-tier speaker, he's not about sensationalism - he's about connection, clarity, and truth and I was delighted to find that he's the same quality of person onstage and off. What was most helpful to me in the pages of Confessions of an Economic Hit Man 3rd Edition was the way Mr. Perkins blended his early history as an "EHM" with current events playing out on the global stage. The new chapters promoted on the cover really do add new value and relevance to this work, from the "where are they now?" updates covering his formative work in places like the Middle East and Latin America to his illuminating insights on today's EHM activity related to China and the New Silk Road. Mr. Perkins takes complex world events (many of which he personally participated in) and provides fresh perspectives that make them accessible. This is important, because he goes on to explain how "ordinary" people like myself (without a background in international politics, business, or economics) can understand these events and find grassroots ways to make a difference. In many ways it reads like some of my favorite classic spy stories, but it's all true, all rigorously documented, and ultimately, a hopeful call to positive action. I hope many will read and share this important writing.

Originally published in 2004, Confessions of an Economic Hit Man is John Perkins’s astonishing autobiographical “true story” of his time working as an economist with US contractors in developing countries. Moving mostly chronologically from the 1960s through 2023 in the third edition, Perkins reveals the pattern of control exerted by the US and China over the developing nations. This pattern, identified through three distinct waves, repeatedly involves “the four pillars of the EHM strategy: Fear, Debt, Anxiety, Divide and Conquer.” In his introduction, Economic Hit Men are described as “highly paid professionals who cheat countries around the globe out of trillions of dollars.” These EHMs work to channel funds from the World Bank, USAID, and other foreign aid organizations into developing nations through large loans for power grids, dams, infrastructure, manufacturing, etc. Economic forecasts and other statistics for “aid projects” in these nations are manipulated, and often wildly exaggerated, in order to induce countries to accept loans from either the Washington Consensus and to employ US firms to supply the manpower and materials for the needed projects; or in the Chinese EHM strategy, with the China International Development Cooperation Agency (CIDCA) and using Chinese companies and materials. This strategy funnels the “aid” funds back to the US or China and the contracting companies make record profits on the projects. As the economic projections almost inevitably fail to materialize, these nations are left with vast amounts of debt, leaving the creditor to negotiate control over the country’s natural resources and often their political goals and alliances as well as their social policies. The book reads much like a spy novel, with Perkins relating the exciting details of the cloak and dagger meetings that resulted in him working for Chas T. Main, Inc. (MAIN) in countries like Panama, Ecuador, Colombia, Saudi Arabia, Iran, Indonesia, and Egypt. He describes his relationship with various national leaders, such as the Ecuadorian presidents Rafael Correa and Jaime Roldos, the Chilean president Salvador Allende, and Panama’s Omar Torrijos. All of these, Perkins asserts, were killed for standing against Big Oil and other industry giants. Throughout this shocking book, the EHM strategy is described in such a way that specifics may be questioned but not the existence of the overall strategy itself, which becomes clearly evident. Perkins assures the readers that the EHM strategy amounts to slavery and results in a “Death Economy.” A key characteristic of this type of economy is the belief, advanced by Nobel-prize winning economist Milton Friedman in the late 1970s, that a corporation exists to maximize short-term profits and no heed should be paid to long-term or collateral damage. Other characteristics of a death economy include: the vilification of taxation; the undemocratic control of citizens by corporations; the exploitation of entire countries and their populations; places higher value on nonproductive jobs; keeps billions of people in poverty. (p.323) Contrary to this is what Perkins terms a “Life Economy,” which aims at the goal of serving the public interest democratically through non-monopolistic competition, sustainable products, valuing life and spiritually enhancing activities above materialistic ones; placing an emphasis upon education, health care, and the arts; cleaning pollution and regenerating devastated environments; one that is driven by compassion and debt avoidance. Overall, the book serves as a much-needed wakeup call for citizens not only in the West but throughout the entire world. As a former insider with a well-developed and well-deserved guilt complex, Perkins here exposes the EHM strategy but stops short of supporting the view that it is a conspiracy led by a few with nefarious intent. Nevertheless, he makes the uncomfortable assertion that the EHM strategies only work because we-the-people make them work; we authorize them through the decisions we make every day. In order to combat the four pillars of the EHM strategy, Perkins suggests using social media to share knowledge of the EHM strategy with other people; writing to CEOs; remaining debt-free; recognizing attempts to create anxiety through “othering” and materialism; denouncing propaganda; and by glorifying “cooperation, compassion and peace instead of conquest.”

Confessions of an Economic Hit Man is one of those rare books that fundamentally changes how you see the world. John Perkins offers a gripping, first-person account of how economic leverage, debt, and development “aid” have been used as tools of influence and control in developing countries. What makes this book so powerful isn’t just the subject matter—it’s the fact that Perkins writes as an insider who once participated in the system he now exposes. The narrative is part memoir, part geopolitical analysis, and part moral reckoning. Perkins explains complex financial and political mechanisms in clear, accessible language, making it easy for readers without an economics background to understand how massive infrastructure loans, inflated projections, and corporate interests intertwine with foreign policy. At the same time, the book remains deeply personal, showing his internal struggle and eventual decision to speak out. Some readers may debate certain claims, but even skeptics will find this book thought-provoking and well worth their time. It forces you to question mainstream narratives about “development,” “aid,” and “globalization,” and encourages a more critical, informed view of international affairs. For anyone interested in economics, diplomacy, history, or power politics, this is essential reading. It’s engaging, unsettling, and unforgettable.

Fascinating book. You get a blend of history, geopolitics, economics, and the personal journey of an economic hit man. Very well written. Easy to follow. Full of information for those of us that love true history (not the whitewashed garbage the Department of Education has been feeding the public for so long). Enjoyed this book thoroughly and I can see why it’s been such a bestseller for so long

This book should be required reading in every government economics class. Every American citizen should read this book to better understand how our government operates behind the scenes. It is shocking to say the least. A must read!

A great book, well written, and it was an eye opener as to how geopolitics is intertwined with industry. Very educational.

Having read Confessions over a decade ago, the third edition is a great opportunity to go back down memory lane as well as to learn about what is currently most pressing on John Perkins mind. He provides key updates on how China has taken over and is using the Economic Hit Man model. Fascinating encounters with luminaries such as Nursultan Nazarbayev and Sergey Glazyev are described. He explains in detail the Belt & Road Initiative, China's rise and integration with the rest of the world, and the New Cold War situation we find ourselves in. He posits it's a Lose-Lose situation because despite some of the benefits China provides to countries compared to the IMF/World Bank model, it is still based on a death economy model. John gives great advice at the end of the book on how people can help change the system. All in all I was VERY pleased with the third edition and HIGHLY recommend picking up a copy!

Great book to learn about empires

This is an excellent read. John Perkins has a style which includes us, his readers, in intimate conversations with men and women of huge power and influence. He shares with us his intimate knowledge of the international power brokers who dictated the course of history. John Perkins was a part of that brokerage and in this third edition of his confessions, he speaks to us, and shares with us an unparalleled insight and knowledge into what can be described as conspiracy fact enacted on a global scale. John concludes his book with many ideas on how we, the readers can help ourselves and our friends to combat feelings of impotency in the face of the economic structures which are killing our planet. I give John hearty thanks for his courage, honesty and tenacity in the writing of this brilliantly written book. Thank you John.

An exceptional book. A must read

Where do I begin… if you are interested in learning how corporations and the US government make things happen around the world, read this. It’s an essential read.

Read John Perkins first edition of this book. This one has a section on China. Very excited to get into that one. This book will really open your eyes to all the horrible things that go on in this world. Corruption, greed and world domination. It doesn't make you feel very good about what's going on out there. I recommend this book.