In the News
Economic systems - Cuba allows small and medium-sized private businesses
9th August 2021
Is this the beginning of the end for the command economy in Cuba?
In response to last month's protests, private firms will be allowed up to 100 employees, and a number of other measures, including a removal of some trade restrictions, mean the economy is opening up.
It will be interesting to see what this means for the economy: are workers going to want to be state employees, and have their wages determined by the state, or work in the private sector, where theory would suggest that pay will reflect their productivity?
Cuba allows small and medium-sized private businesses https://t.co/4vlzNl4gTr
— BBC News (World) (@BBCWorld) August 7, 2021
Graham Watson
Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.
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