Cuban Revolution In Cuba
Cuba’s Gross Domestic Product per capita is 72.23 billion USD. It is a fairly poor state because Cuba does not have a capitalist economic system, it is communist which means that workers labour for the state, receive low incomes and in turn get domestic benefits such as free food, subsidies bills, free medical coverage, free education, no taxes on property and goods and services. The country has some developed and some underdeveloped countries which is all dependent upon its literacy rate, 3 out of 4 cubans are illiterate.
The Cuban Revolution strained Cuba’s already staggering economy. With the cold war, rise of a new authoritarian figure, collapse of communism and requesting aid from other countries; Cuba is known to owe over $38.046 billion …show more content…
The workers get about 12-15 cents/hour. While it may look like the average wage of these laborious workers is extremely low compared to many western minium wages, cubans are happy with what they earn for several reasons. In terms of the Human Poverty Index, Cuba has ranked top from all the Latin American countries because people are living long and healthy lives, have access to education and have a decent standard of living. Part of the reason why many workers are happy with their income is because the Cuban government has provided the people with many economic subsidies. These subsidies include free food allowances, low utility bills ($2), free medical care, low Gasoline costs, free education, no property or goods and services taxes. Many Cubans are also happy with their lives because it is enriched with culture, the arts especially are flourishing in their land. However, there is a great gap between the rich and the poor, as the rich get more than quadruple the amount of income that the poor get. This is because of the new economic reforms that Raul Castro has put into place. This is Cuba’s 4th year into turning Cuba’s dual economy into a mixed one. The government regularly “updates” the country which means massive layoffs of the state workers, distribution of unoccupied land, agricultural reform, expansion of small businesses, cuts in social spending, etc. But mostly, the main goal …show more content…
The path to a mixed economy appeals to many objectives that Castro will try to achieve by the the end of his term. First, Cuba has to expand the private sector that offer professional services. This would help people come out of poverty and allow for more people to be middle class. Expanding the private sector will also transform the minds of regular Cuban people and turn them into creative businessmen. Secondly, by liberalizing the economy, Cuba will be on its way to being open to foreign investments which will open new markets and new types of technologies. Thirdly, Cuba has the potential to be capitalist society as they are enriched with resources that could help them get out debt. Capitalism would be mean more private ownership, wage labour, price system, profit, and businesses involved in competitive markets. Cuba’s businesses will also be operating on consumer demands around the world which will call for the multiplier effect. This will not only modernize Cuba, build better trade relations with many countries, but put them on the path to modernization and later become a developed
The Cuban Revolution strained Cuba’s already staggering economy. With the cold war, rise of a new authoritarian figure, collapse of communism and requesting aid from other countries; Cuba is known to owe over $38.046 billion …show more content…
The workers get about 12-15 cents/hour. While it may look like the average wage of these laborious workers is extremely low compared to many western minium wages, cubans are happy with what they earn for several reasons. In terms of the Human Poverty Index, Cuba has ranked top from all the Latin American countries because people are living long and healthy lives, have access to education and have a decent standard of living. Part of the reason why many workers are happy with their income is because the Cuban government has provided the people with many economic subsidies. These subsidies include free food allowances, low utility bills ($2), free medical care, low Gasoline costs, free education, no property or goods and services taxes. Many Cubans are also happy with their lives because it is enriched with culture, the arts especially are flourishing in their land. However, there is a great gap between the rich and the poor, as the rich get more than quadruple the amount of income that the poor get. This is because of the new economic reforms that Raul Castro has put into place. This is Cuba’s 4th year into turning Cuba’s dual economy into a mixed one. The government regularly “updates” the country which means massive layoffs of the state workers, distribution of unoccupied land, agricultural reform, expansion of small businesses, cuts in social spending, etc. But mostly, the main goal …show more content…
The path to a mixed economy appeals to many objectives that Castro will try to achieve by the the end of his term. First, Cuba has to expand the private sector that offer professional services. This would help people come out of poverty and allow for more people to be middle class. Expanding the private sector will also transform the minds of regular Cuban people and turn them into creative businessmen. Secondly, by liberalizing the economy, Cuba will be on its way to being open to foreign investments which will open new markets and new types of technologies. Thirdly, Cuba has the potential to be capitalist society as they are enriched with resources that could help them get out debt. Capitalism would be mean more private ownership, wage labour, price system, profit, and businesses involved in competitive markets. Cuba’s businesses will also be operating on consumer demands around the world which will call for the multiplier effect. This will not only modernize Cuba, build better trade relations with many countries, but put them on the path to modernization and later become a developed