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Showing posts from October, 2010

Cuba has Finally Read 'Atlas Shrugged'

What does that mean?

It means that Cuba, one of the few remaining Communist countries, has finally begun to allow free enterprise.

What was the economic situation in Cuba?

Their economy has been about ready to collapse. Many workers in Cuba barely show up and they do little productive work when they do. In government offices in Havana, coffee and cigarette breaks last for hours. It's not that they are lazy, it's that they get paid about $20 per month, and have no motivation to work hard.

What specifically have they done to more toward freer markets?

Cuba has recently allowed beauticians and barbers to work for themselves. Drivers can operate their own taxis. Even some farmers have been allowed to own their own land. Of course, these are the people who are making a reasonable living. Also, Cuba just let go of 500,000 government workers, 10% of its government workforce.

Is this really a free market economy?

Certainly not, but it is a step closer. That seems to be the way it starts in a…