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Cuba is Heading Down a Black Hole of Power

After a good while analyzing the model of socialist state-led business and the inefficiency that characterizes the country’s economy, our conversation with economist Emilio Morales turns towards Cuba’s dependency on other countries.

HT: I recall this phrase of yours: “They created an economic system, which is totally incompatible with the international economy.” What do you think about the attitude the new government has adopted to tackle the chronic evils that came to light a year ago? 

EM:  Both the president and the minister of Economy haven’t risen to the occasion, and they won’t. It’s clear that it will be impossible for the Communist Party (PCC) to fill the abyss left behind by the dictator Fidel Castro, and his appointed successor, Raul Castro. In regard to Cuba’s minister of Economy, he is more of a political commissioner than an economist focused on getting the country out of this crisis.  With so many fine economists in the country (whom the government doesn’t seem to listen to), they chose to hand over the reins of the economy to somebody who clearly ignores and has no idea about the law of markets.

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