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07

Mar

Pre-Cuban Revolution Economics

Paul Walcutt:
I would like to know what the economic situation was in Cuba from before the revolution of Fidel Castro. And can you give me some sites where this is also described?
Eric Williams (author of From Columbus to Castro:
The History of the Caribbean 1492-1969, Vintage Books, New York, 1984): The economy was directly tied to the international price of sugar. US business interests owned 75% of the arable land on the island before 1959 and controlled 40% of the country's sugar production. Thsi more or less made Cuba a economic colony of the US with Bautista as the puppet leader. This relationship led to the widespread popular support amongst Cubans who gravitated towards Castro's movement.
http:
//www.historyofcuba.com/cuba.htm

If I was going to write a book, it seems someone has beat me to the punch.

A book by the title of Revolutionary Economics… I’ll have to notify Amazon.

Look at that handsome mug.  Ya boy, Karl Marx.

Look at that handsome mug.  Ya boy, Karl Marx.

Mises Economics Blog Talks American Revolution

03

Mar

What are the preconditions for maintaining a capitalist society?

After major economic crisis, many societies morph into a socialist or communist community.  What is it that has kept the U.S. from easily slipping down the same path?

Our inequality materializes our upper class, vulgarizes our middle class, brutalizes our lower class.
Matthew Arnold (1822-1888)
An imbalance between rich and poor is the oldest and most fatal ailment of all republics.
Caption reads, “Interesting.  The gap between rich and poor is not as great as we thought.

Caption reads, “Interesting.  The gap between rich and poor is not as great as we thought.