Sunday, November 6, 2011

Cuba's Economic Makeover -Creeping Capitalism

Something remarkable is happening in Cuba. After a half century of Communist dogma and a dead economy, capitalism is coming into the light for the first time. First it was a new rule that allowed people to own a small business like a restaurant. Then it was another rule that allowed the private purchase and sale of real estate.

Now a new rule allows Cubans, for the first time in 50 years, to buy and sell used cars (they still can't buy new ones --only the privileged few can do that). Check out this NY Times article on the change:

What a classic car? Get it in Cuba.

Something incredible is beginning to happen in Cuba - CHANGE. And Capitalism.

Perhaps they are following the China model - keeping the same government but allowing free markets and entrepreneurs room to flourish. Or they are just relieving political pressure since cars were being traded on the black market, but without a guarantee of a clear title). Obviously the old ways led only to stagnation.

Whatever it is, Cuba seems to be waking up from its long slumber under Fidel. Since his brother Raul has taken over, Cuba has been reforming for the better.

Here are a couple links to related articles on changes in Cuba:
Stay tuned...

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