Fidel Castro, the soon to be late dictator of Cuba, proclaims what most Cubans have known since he took over Cuba two years after my birth. Journalist Jeffery Goldberg of the Atlantic asked him if the Cuban economic model was something he believes should be exported. The failed baseball player said that the Cuban economic model didn’t even work for Cubans. Go here to read the story.
The “Cuban economic model” as far as I can tell basically consisted of reducing most of the population to the status of state slaves to support the nomenklatura of the Cuban Communist party. The system only “worked” because huge subsidies from the Soviet Union propped it up. After the collapse of the Soviet Union and the elimination of the subsidies, the Cuban economy went into freefall as detailed here. Continue Reading