It is a privilege to be invited to discuss a paper written by Claudio Loser. I must say that Dr. Loser has written a short but excellent paper that carries a very important lesson for the future of the Cuban economy. That lesson is, in Dr. Loser’s own words, “Cuba can draw important lessons from […]
The Structural Transformation of the Cuban Economy: A Report of the Last Twelve Months
Over the last 38 years, quantitative and institutional information on the Cuban economy have typically been fragmentary and incomplete. The serious observer or investigator must reconcile his or her understanding of what is happening with reports that are vague and contradictory. That is why formal or scientific investigation of the Cuban economy is very difficult […]
The Effect of Socialism on the Entrepreneurial Abilities of Cuban-Americans
The transformation of centrally planned economies into market economies has met with varying degrees of success. In several countries the process of economic reform has not gone very far or it has stalled, and in some instances it is even in danger of being reversed. [ref]Even in Russia itself, the main challenger to Yeltsin in […]
Economic Education for a Market Economy: The Cuban Case
The transformation of a centrally planned economy (CPE) into a market economy provides an excellent example of hysteresis between the trajectories corresponding to the transformation of each economic system into the other. The first process involves a transformation of a low-complexity system to one of much higher complexity. Inversely, upon establishing a centrally planned economy […]
Evaluation of Changes in Economic Policy in Cuba
In order to evaluate Cuba’s movements towards some forms of market economics, let us first identify the conditions that characterize a market economy in its most ideal state. Then we will be able to determine the magnitude and significance of the deviations between the model and the practice, actual or projected. DEFINITION OF A MARKET […]
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