In 2006, the diary of Paul Porter - President Truman's envoy to Greece in 1947 - was released by Midnight Editions. "A Miracle for Greece" was widely read and garnered even more attention for what it revealed about the functioning of the Greek economy, as well as the relationship between the political scene and the administration with the advisors of the time.

The "Watchers in Desperation" continue this investigative mission: to make the reading/research community aware of the thoughts, opinions, and perspectives of American economists who monitored the Greek economy from 1947 to 1953. These watchers influenced or sought to influence the course of the Greek economy. Initially, they were confident that their mission would be successful. However, after the end of the civil war, and especially after the start of the conflict in Korea, the initial certainty that American policy had already achieved the takeoff of the Greek economy towards a long-term self-sustaining path began to wane. The criticism of the advisors-watchers towards the Greek political system, which was initially covert and mild, transformed into open and strict. Where there was a sense of superiority and certainty about the outcome, despair and resignation began to creep in. The texts of the American watchers presented here certainly allow for multiple interpretations and will be read from many different perspectives. They reconstruct the reality of the Greek economy of the time from below and provide an opportunity for revisions, observations, and discussions. They also provide an opportunity for reflection on current situations and timeless constants in Greek political life.