More recently, former businessman John Perkins alleged in his book Confessions of an Economic Hit Man that Torrijos was assassinated by American interests, who had had a bomb planted aboard his aircraft (by CIA organized operatives).
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The term was used by author John Perkins in his 2004 book Confessions of an Economic Hit Man, where he claimed that a "corporatocracy" exists, involving tacitly coordinated corporations, banks, and governments.