Meaning: The quote you provided is from John Perkins, an American author and former economist. In his book "Confessions of an Economic Hitman," Perkins discusses his experiences working as an economic consultant for an international consulting firm. He describes how he was involved in projects that he believes exploited developing countries and led to the enrichment of a few wealthy individuals and corporations.

The quote reflects Perkins' perspective on the impact of large loans made to developing countries by international financial institutions and governments. He argues that these loans often result in significant amounts of money flowing back to the United States or other wealthy nations, leaving the borrowing country burdened with debt and high interest payments. Perkins uses strong language to convey his belief that the indebted countries effectively become subservient to the lenders, likening them to servants or slaves of a larger empire.

Perkins' use of the term "empire" in this context is significant, as it reflects his view of the global economic and political dynamics at play. He suggests that the powerful nations and financial institutions that provide these loans exert a form of control and influence over the borrowing countries, shaping their policies and actions to serve the interests of the lenders rather than their own citizens. This portrayal of international finance as a tool of empire-building aligns with Perkins' broader critique of what he sees as exploitative practices in the world of economic development and diplomacy.

It's important to note that Perkins' views have been controversial and subject to debate. Critics have questioned the accuracy of his claims and the extent to which his personal experiences can be generalized to broader patterns of global economic relations. Nevertheless, his work has sparked discussions about the impacts of international lending, the power dynamics between developed and developing nations, and the ethics of economic development practices.

In conclusion, the quote from John Perkins encapsulates his critical perspective on the consequences of large loans to developing countries, framing them as mechanisms that perpetuate inequality and subjugation rather than fostering genuine development. While his views have sparked debate, they have also contributed to a broader conversation about the complexities and power dynamics inherent in the global economy and the responsibilities of wealthy nations and financial institutions toward the developing world.