By Jorge Salazar-Carrillo, Andro Nodarse-Leon
This booklet is a research of Cuba’s monetary improvement below communism over the past fifty-five years. The authors locate that Cuba’s socioeconomic improvement has long past backward because the Cuban Revolution in 1959. The authors finish that Fidel Castro’s revolution has been an financial catastrophe for Cuba.
The e-book first outlines Cuba’s fiscal place ahead of the revolution. It reports Cuba’s scores with appreciate to Gross household Product (GDP) in line with capita within the Nineteen Fifties and examines the power of pre-Castro Cuba’s overseas reserves and the healthiness of its financial procedure. It additionally offers pre-Castro Cuba’s investments in well-being care and schooling and records the island’s improvement strength within the Fifties. the previous few chapters describe the precipitous decline in all of those parts of Cuba’s financial system lower than Castro.
Despite the socioeconomic disaster of the Castro years, the authors envision a post-Castro Cuba, the place this e-book promises a benchmark to degree the developmental luck that the Cuban work-ethic and entrepreneurial spirit can generate in a free-market system.
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Additional resources for Cuba: From Economic Take-Off to Collapse under Castro
Per Capita GDP Range (USD) 420–1,453 216–389 100–188 18 % of World Population 15% 19% 12% % World Representative Wealth Held Countries 62% 23% 6% United States GDP Per Capita (USD) 1,453 Canada 870 Sweden 780 UK 773 Australia 679 Netherlands 502 France 482 Ireland 420 Israel 389 Czechoslovakia 371 Finland 348 Argentina 346 Uruguay 331 Venezuela 322 West Germany 320 USSR 308 Poland 300 Cuba 296 Hungary 269 South Africa 264 Portugal 250 Italy 235 Austria 216 Chile 188 Panama 183 Colombia 132 Greece 128 Mexico 121 Brazil 112 Japan 100 Peru 100 Economic Development and National Income in the 1950s Per Capita GDP Range (USD) 40–92 25–40 % of World Population 24% 30% % World Representative Wealth Held Countries 6% 3% GDP Per Capita (USD) El Salvador 92 Nicaragua 89 Iraq 85 Iran 85 Paraguay 84 Honduras 83 Guatemala 77 Dominican Republic 75 India 57 Bolivia 55 Haiti 40 Saudi Arabia 40 Ecuador 40 Ethiopia 38 Thailand 36 South Korea 35 China 27 Indonesia 25 Source: Statistical Office of the United Nations.
3 Source: Pick Publishing Corporation. Pick’s Currency Yearbook. New York: Pick Publishing Corporation, 1957. Pg. 23. ahead of its closest Latin American neighbor, Argentina, by more than 20 percent, and ahead of West Germany, Denmark, Ireland, Italy, Portugal, Spain, Greece, and Japan. Additionally, Cuba’s currency was among the most stable in the world, as it was buttressed by one of the highest levels of gold and foreign exchange reserves per capita in the planet. Cuba’s gold reserves per capita were also the thirteenth highest among all of the reporting countries in the world, with nearly double the reserves per capita of the United Kingdom, nearly triple those of France and Italy, and ahead of Greece and Japan by even greater margins.
8 Source: Gold and Foreign Exchange Reserves are from: Statistical Office of the United Nations, Department of Economic and Social Affairs. Statistical Yearbook 1958. New York: Statistical Office of the United Nations, 1958. Pg. 451. This applies in all cases except for France and the United Kingdom, which are from: Statistical Office of the United Nations, Department of Economic and Social Affairs. Statistical Yearbook 1961. New York: Statistical Office of the United Nations, 1961. Pg. 521. The population data used for all countries in the world to arrive at per capita values is from the Statistical Office of the United Nations, Department of Economic and Social Affairs.
Cuba: From Economic Take-Off to Collapse under Castro by Jorge Salazar-Carrillo, Andro Nodarse-Leon