I've just finished reading John Perkin's book Confessions of an Economic Hit Man and to tell you the truth I'm a little disturbed.
The book "is not fiction. It is the true story of my [Perkin's] life" (xii). Perkins tell the story of his as an economic consultant and what he calls himself as an "economic hit man"
But what exactly is that?
In his own words:
"Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars [...] Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as Empire but one that has taken on terrifying dimensions during this time of globalization" (xi).
This small detail of an EHM's job reminded me of some of our class' Reconstruction ideas today. As a way to help the South, the North would give them money so that they could, like what our country is doing today, build infrastructure that was needed. As a way of payment, the South would give the North cotton, tobacco, and whatever else they might have been able to give.
While this seems like a good plan, the results are usually not what they seem. In most countries "Economic Hit Men" invade poverty levels shoot up as well as unemployment and public debt. At the same time, the countries national resources that were available to the people decrease leaving them with very little to survive on.
After looking at this, would that Reconstruction have worked? Would the South fall into great deficits? Could that have been another incentive to rebel? These are all questions that can never be answered but it's a different perspective that even though a plan might seem really good, when acted out the results may exceed all your previous expectations.
If you want to learn more about Confessions of an Economic Hit Man or about John Perkins visit http://www.johnperkins.org/
2 comments:
I am impressed by all the outside reading that you do! Almost unheard of for a junior in high school, given the academic demands.
not sure which direction you are going with Jr Theme?
international policy?
economic policy? loans to countries
Creating a World Without Poverty: Social Business and the Future of Capitalism
by Muhammad Yunus
Yesterday on National Public Radio, I heard this Economics professor interviewed:
He wrote a book about the micro-credit movement. He began lending small amounts of money, $40 or less, without collateral, to the poorest women in the world. Thirty-three years later, the Grameen Bank has helped seven million people live better lives building businesses to serve the poor. The bank is solidly profitable, with a 98.6% repayment rate. It inspired the micro-credit movement, which has helped 100 million of the poorest people in the world escape poverty and earned Yunus (Banker to the Poor) a Nobel Peace prize. This volume efficiently recounts the story of microcredit, then discusses Social Business, organizations designed to help people while turning profits. French food giant Danone's partnership to market yogurt in Bangladesh is described in detail, along with 25 other businesses that operate under the Grameen banner. Infused with entrepreneurial spirit and the excitement of a worthy challenge, this book is the opposite of pessimistic recitals of intractable poverty's horrors.
How can American style capitalism work to alleviate poverty in the world?
Listen to this 8 min. segment on NPR and tell me what you think.
Mrs. G
Dear Sami,
I agree with Mrs. Gressel -- pretty impressive stuff and importantly, you really made the link between your reading and class content. Amazing.
I would look at this issue from multiple viewpoints, though, if you decide to pursue it in the Junior Theme. There are plenty of writers who think that the IMF and World Bank have done much good in the world for developing countries.
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