Talk2006

Confessions of an Economic Hit Man

Library Of Congress. Science, Technology, And Business Division

At the Library of Congress

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About

Author John Perkins discussed his book "Confessions of an Economic Hit Man" in a program sponsored by the Science, Technology and Business Division. In his book, Perkins describes his experiences as an economist of an international consulting firm whose job was to persuade strategically important developing countries, such as Panama and Indonesia, to accept enormous loans for infrastructure development and then to ensure that the lucrative projects were contracted out to U.S. corporations. According to Perkins, when it became impossible to repay these huge debts, the United States government, the World Bank or U.S.-influenced aid agencies would step in and place the countries in a trusteeship of sorts, dictating their spending budgets and other policies. Although Perkins has drawn enthusiastic audiences on the lecture circuit, and his book has met with commercial success, he has drawn critics, among them the U.S. Department of State, which has taken issue with some of his assertions.

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