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Overall Summary
The sequel to Confessions of an Economic Hit Man by John Perkins is a book that reveals how corporations and the government use development contracts to control third-world nations. The New Confessions of an Economic Hit Man is similar in tone to a spy novel, which makes it easier for readers who are looking for something exciting but still informative. It also includes 50 pages of documentation, notes, and an index.
John Perkins says that he was an economic hit man. He admits to convincing leaders of poor countries to accept loans for infrastructure projects, which were impossible to repay and effectively put those officials in the US government’s pocket. If they resisted capture, they would be overthrown or assassinated. In his new book, The New Confessions of an Economic Hit Man, Perkins shows how the United States is still doing this today by adding more countries under its control with American corporations.
Perkins joined the Peace Corps in Ecuador. He and his wife worked with local brickmakers to improve their business, which made him sympathetic to them.
Perkins is taken back to Boston by the EHMs and joins an engineering firm. He learns how he will be creating forecasts for countries that are targeted by the United States, with optimistic numbers designed to convince those leaders of taking out loans from American banks. The loans would then bankrupt their countries and fall under U.S control.
Perkin’s first job is in Indonesia, where he observes extreme poverty despite the influx of money. He doesn’t understand why this happens and how it can be fixed. The people who employ him tell him that his work is part of the fight against communism, which keeps him from leaving the firm.
In Part 2, Perkins works in Panama where he befriends its leader who is also an EHM. When the Arab oil embargo causes chaos in the West, America brings Saudi Arabia under its wing and Perkins writes forecasts that help American companies build massive infrastructure projects there. In Part 3, Perkins encounters Iranian rebels who make it clear that the shah (an American puppet) is despised by most Iranians. He also goes to Colombia where he meets a woman named Paula and they fall in love.
In Part 4, the Ecuadorian president and Panama’s General Torrijos are killed in plane crashes. Perkins realizes that if he can’t convince these leaders to toe the line, CIA operatives will appear and do their lethal dirty work.
In 1989, the United States invaded Panama and captured its leader Manuel Noriega. However, they failed to capture Saddam Hussein in Iraq and invaded that country in 1991. Venezuela adopted a socialist government after nationalizing several corporations but were distracted by 9/11 attacks on America and dropped their plans for invading Venezuela.
Perkins starts a company that is successful. He also accepts a lucrative consulting job in exchange for promising not to write a tell-all book. Part 5 discusses the way corporations control third world countries. They become more brazen and Perkins barely survives an assassination attempt. It turns out that he was poisoned by someone who wanted him to stop writing his book about how corporations take over third world countries like Honduras and Ecuador.
Perkins finally writes his tell-all book. He also decides to become an activist, but is stopped when the nonprofit he works for in Ecuador is expelled from the country.
Perkins is worried that America has become too involved with trying to control other countries. He believes that China may fall victim to the same thing, but it’s a better option than America for third world development projects.
