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The Economic Hit Man: A Background

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Learning activity

Knowing the detrimental impact of his actions, John Perkins was faced with a moral dilemma over perpetuating the status quo.

Have you ever faced an ethical dilemma in your day-to-day decision-making? Take a moment to reflect on this and write down ONE economic aspect of your everyday life - whether it's the clothes you buy or the stores you frequent - that you think could have a detrimental impact on the environment or vulnerable communities.

Alternatively, if you don't feel your economic activities bear any negative third-party impacts, write down your explanation.

Key Takeaways

In this chapter, John Perkins described how certain developmental projects conducted by multilateral institutions like the World Bank may not always benefit lower-income nations and their poorest segments.

  1. The conventional approach of promoting large loans to lower-income countries may not always result in beneficial outcomes, especially with the diversion of funds from essential social services to benefit corporations.

  2. John Perkins, having identified the problems of this system, faced a moral dilemma between continuing with the status quo and the growing awareness of the detrimental impact on vulnerable communities.

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Further Readings
  1. John Perkins (2020)Out With Predatory Capitalism, In With a "Life Economy"Yes! Media
  2. Christina Majaski (2023)What Is the Invisible Hand in Economics?Investopedia
  3. Chuck Collins (2019)Bernie's Right: Three Billionaires Really Do Have More Wealth Than Half of AmericaInequality.org
  4. Sarah Babb and Alexander Kentikelenis (2021)People have long predicted the collapse of the Washington Consensus. It keeps reappearing under new guisesThe Washington Post
  5. John Perkins (2023)Confessions of an Economic Hit Man, 3rd EditionPenguin Random House
  6. Douglas Irwin and Oliver Ward (2021)What is the “Washington Consensus?”Peterson Institute for International Economics
  7. John Perkins (2020)Building a Global Economy That Was Bound to FailYes! Media
  8. Stephen Metcalf (2017)Neoliberalism: the idea that swallowed the worldThe Guardian