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“As a self-proclaimed human rights activist, Hochschild can be forgiven for his economic illiteracy. But since it is the keystone that begins his tale, it is another fib worth correcting. The EIC’s large trade surplus (more physical goods going out than coming in) was because virtually none of the revenue from the goods sold in Europe was sent back to pay for labor, which was “paid for” as a fulfillment of the EIC labor obligation. Instead, the revenue paid for European administration, infrastructure, and trade services in the Congo as well as profits that were parked in Belgium (an overall payments deficit). For Hochschild to claim that Africans were getting “little or nothing” for the goods they produced because fewer goods were being sent to Africa displays a stunning economic ignorance. It is like saying that the empty container ships returning to China from today’s port of Long Beach show that China’s workers are being paid “little or nothing.” — Bruce Gilley