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UFPPC (www.ufppc.org) Digging Deeper CLI: February 21, 2011, 7:00 p.m.

John Perkins, Hoodwinked: An Economic Hit Man Reveals Why the World
Financial Markets Imploded—and What We Need to Do to Remake Them
(New York: Broadway Books, November 2009.

[Thesis. A "mutant form of capitalism" has Ch. 3: The First Economic Hit Man.
created an exploitative global empire "Claudine," seductress and tutor, initiated
instrumentalized by debt and governed by Perkins into working for the system of
corporatocracy, but the system can be predatory capitalism (37-44).
reformed by a popular movement.]
Ch. 4: Iran and the Swirling Clouds.
Introduction. "We [economic hit men, or Involvement in Iran (45-46). Robert Baer on
EHMs] were so successful in the Third World Iran (46-47). That the corporatocracy rules is
[in privatizing resources, empowering not a conspiracy theory (48-53).
corporate executives, and encouraging debt
(cf. 4)] that our bosses directed us to Ch. 5: Mercenaries. Corporations (54-60).
implement similar strategies in the United
States and the rest of the planet" (1; cf. 20). Ch. 6: Enslaved by Debt. Ecuador (61-66;
Iceland (2-8). "Now we have entered a time 70-71). The power of debt (66-70).
not unlike that in which city-states were
replaced by nations―except that today the Ch. 7: Modern Robber Barons. Dennis
nations have been usurped by giant Kozlowski of Tyco as a typical modern tycoon
corporations" (4). "The problem . . . was not (72-73). Predatory capitalists use
capitalism. The problem was the abuse of philanthropy to legitimate their greed (74-
capitalism" (4-5). With willful ignorance, we 85)
are living a lie; this book is an "overview of
the root causes" and an exploration of the Ch. 8: The Coming Deregulation. Utility
options before us (11; 8-11). deregulation & Perkins' involvement as a
utility company CEO in the 1980s (86-92).
Ch. 9: The Regulation Scam.
Ch. 1: Not a Fluke. The economic crisis of Deregulation theory derived from Ludwig von
2006-2009 (15-18). Since WWII, a global Mises and Friedrich von Hayek (93-94).
empire has been founded through subterfuge Transportation and electricity were the first
and cunning by indebting resource-rich sectors deregulated in the 1970s (94-96).
Third-World countries and using their Media followed beginning in the 1980s (97-
inability to repay to effect neoliberal reforms; 98). In the 1990s it reached banking,
these techniques were then extended to the finance, and insurance, overturning the
rest of the world, with most Americans Glass-Steagall Act of 1933 (98-101).
complacently (indeed, immorally) accepting
the false view that our system is "the best Ch. 10: Fake Accounting. Politicians help
there is" (18-26). corporations evade paying for externalities
(102-06). A few corporations have embraced
Ch. 2: Titans Clash: Keynes Versus full cost accounting (FCA) (105-08).
Freedom. Keynesian economics accepted
"the rights of the common man as a key to Ch. 11: Double Standards. Father Miguel
successful capitalism," but was vanquished d'Escoto Brockman of Nicaragua discusses
by the Chicago-school monetary-cum-"free over breakfast how the World Bank and IMF
market" economics of Milton Friedman, use economic crises to force "structural
leading to rampant inequality (27-34). Our adjustment programs" while ignoring the
system is based on values typical of principles of such programs in their own
immaturity: exploitation and competition economies (109-14).
Ch. 12: Militarized, Paper Economy. pressure for new rules and regulations (188-
Decline in U.S. manufacturing in the era of 94).
globalization (115-24).
Ch. 24: Honoring Your Passion.
PART II: THE SOLUTION Politicians have to be forced to action by
people motivated by passionate convictions
Ch. 13: Changing Capitalism's Goal. (195-203).
Capitalism cannot be eliminated in the
foreseeable future, but we can "fix the Conclusion. A summer 2009 visit to
broken system" (132; 127-32). Panama; we have been hoodwinked by
predatory capitalists, but it is in the people's
Ch. 14: China: A Lesson in power to change: "The choice is our" (218;
Transformation. The recent history of 205-18).
China is testimony to the power and
adaptability of capitalism; it "signals hope for Acknowledgments. Literary agent, editor,
all of us" (139; 133-41). publicist, wife Winifred, son-in-law (web
Ch. 15: David Versus Goliath. Change
depends on pressure from the people (142- Notes. 11 pp.
Index. 11 pp.
Ch. 16: The Burden of Melting Glaciers.
The exhaustion of resources makes change About the Author. John Perkins worked
imperative (147-50). as a business economist in the 1970s; his
Confessions of an Economic Hit Man (2004)
Ch. 17: Terror and Other "isms." The has been translated into "over thirty
causes of terrorism and piracy are ultimately languages" (244). In the 1980s he worked as
economic (151-56). CEO of an alternative energy company. As a
writer and lecturer he has devoted himself to
Ch. 18: The Dalai Lama: Prayer AND various NGOs. Hoodwinked is his third book
Action! A successful approach requires on economics and politics. He has also
ideation and action, as the Dalai Lama written or co-written five books on
explained to Perkins (157-61). "indigenous cultures and personal and global
transformation": The Stress-Free Habit
Ch. 19: Accepting Consumer (1989); The World Is as You Dream It (1994);
Responsibility. Consumers have to accept Shapeshifting (1997); Psychonavigation
ethical responsibility for their acts, making (1999); Spirit of the Shuar (2001).
more expensive purchases as investments in
the future (162-70). [Additional information. John Perkins
was born on July 28, 1945, in Hanover, NH.
Ch. 20: Creating a New Economy. Latin He attended the Tilton School and Boston
America has changed, rejecting "extreme University School of Management. Some
materialism and militarism" (178; 171-78). details of his life described in Confessions of
an Economic Hit Man have proved difficult to
Ch. 21: Green Markets. Optimism about verify, and the U.S. government has denied
companies that use sustainable business that he was recruited by the NSA. Perkins is
practices (179-81). currently working with Lynn Roberts as part
of Dream Change, which offers "Sacred
Ch. 22: Good Stewardship, New Icons. Expeditions, Workshops & Apprentice
In recent decades, American have embraced Programs"—the next event scheduled is Mar.
predatory capitalists (robber barons) as ideal 4-6, 2011, in Vancouver, B.C. He lives in
types, spurning an earlier ethos that it is now western Massachusetts (271).]
time to return to (182-87).
[Critique. Hoodwinked recycles in Part I the
Ch. 23: New Rules for Business and story of Perkins's life that he first laid out in
Government. There must be public Confessions of an Economic Hit Man,
applying its basic concepts in a brief, as one in which he is called to a meeting
summary way to the rest of the world and to where an insider says something memorable
American society. In Part II he appeals to while the author, humbly Candide-like,
Americans to recognize their own capacity to listens. Novelistic details are provided, e.g.
bring about social change. Perkins's analysis (perhaps a pastiche of Joseph Conrad): "A
is simple, even simplistic, but that is no cool breeze floated off the river, and an oil
doubt the author's intent. — In Perkins's tanker passed by, a dark shadow among the
writing, every theory or fact is integrated lights, headed out to sea" (138). Later, he
into an anecdote: his maxim seems to be: reads quotes from some article containing
make it personal. (In August 2006, at the the gist of what Perkins wants to convey that
Veterans For Peace conference in Seattle, reminds him of the memorable remark. In
Perkins said: "I can only speak from this way, Perkins personalizes what are to
experience. I'm not a theorist, I'm not an most people remote, abstract issues. —
academician, and I don't consider myself an Many of Perkins's narrations appear to be
intellectual at all. I only speak from devised to convey a moral; indeed, we
experience, and my experience is that the suspect his life story as he tells it is such a
corporations are running this [system].") — narrative device.]
Perkins often uses narrative formulae, such