Confessions of an Economic Hit Man

Taken cumulatively, the integration of the world as a whole, particularly in terms of economic globalization and the mythic qualities of “free market” capitalism, represents a veritable “empire” in its own right… No nation on earth has been able to resist the compelling magnetism of globalization. Few have been able to escape the “structural adjustments” and “conditionalities” of the World Bank, the International Monetary Fund, or the arbitrations of the World Trade Organization, those international financial institutions that, however inadequate, still determine what economic globalization means, what the rules are, and who is rewarded for submission and punished for infractions. Such is the power of globalization that within our lifetime we are likely to see the integration, even if unevenly, of all national economies in the world into a single global, free market system.¹

As I mulled over these issues, I decided it was time to write a tell-all book, Conscience of an Economic Hit Man, but I made no attempt to keep the work quiet. Even today, I am not the sort of writer who writes in isolation. I find it necessary to discuss the work I am doing. I receive inspiration from other people, and I call upon them to help me remember and put into perspective events of the past. I like to read sections of the materials I am working on to friends, so I may hear their reactions. I understand that this may be risky, yet I know no other way for me to write. Thus, it was no secret that I was writing a book about my time with MAIN.

One afternoon in 1987, another former MAIN partner contacted me and offered me an extremely lucrative consulting contract with Stone & Webster Engineering Corporation (SWEC). At that time, SWEC was one of the world’s premier engineering and construction companies, and it was trying to forge a place for itself in the changing environment of the energy industry. My contact explained that I would report to their new subsidiary, an independent energy-development branch modeled after companies like my own IPS. I was relieved to learn that I would not be asked to get involved in any international or EHM-type projects.

In fact, he told me, I would not be expected to do very much at all. I was one of the few people who had founded and managed a successful independent energy company, and I had an excellent reputation in the industry. SWEC’s primary interest was to use my résumé and to include me on its list of advisers, which was legal and was consistent with standard industry practices. The offer was especially attractive to me because, due to a number of circumstances, I was considering selling IPS. The idea of joining the SWEC stable and receiving a spectacular retainer was welcome.

The day he hired me, the CEO of SWEC took me out to a private lunch. We chatted informally for some time, and as we did so I realized that a side of me was eager to get back into the consulting business, to leave behind the responsibilities of running a complicated energy company, of being responsible for over a hundred people when we were constructing a facility, and of dealing with all the liabilities associated with building and operating power plants. I had already envisioned how I would spend the substantial retainer I knew he was about to offer me. I had decided to use it, among other things, to create a nonprofit organization.

Over dessert, my host brought up the subject of the one book I had already published, The Stress-Free Habit. He told me he had heard wonderful things about it. Then he looked me squarely in the eye. “Do you intend to write any more books?” he asked.

My stomach tightened. Suddenly, I understood what this was all about. I did not hesitate. “No,” I said. “I don’t intend to try to publish any more books at this time.”

“I’m glad to hear that,” he said. “We value our privacy at this company. Just like at MAIN.”

“I understand that.”

He sat back and, smiling, seemed to relax. “Of course, books like your last one, about dealing with stress and such things, are perfectly acceptable. Sometimes they can even further a man’s career. As a consultant to SWEC, you are perfectly free to publish that sort of thing.” He looked at me as though expecting a response.

“That’s good to know.”

“Yes, perfectly acceptable. However, it goes without saying that you’ll never mention the name of this company in your books, and that you will not write about anything that touches on the nature of our business here or the work you did at MAIN. You will not mention political subjects or any dealings with international banks and development projects.” He peered at me. “Simply a matter of confidentiality.”