Notes “En última instancia, lo que cuentan son las personas. A la postre, el proceso de transición de un país se juzgará desde la perspectiva de si su población vive mejor que antes…Esto es particularmente cierto en los países en transición, donde es posible que los responsables de las políticas no puedan mantener las trascendentales […]

Notes “The ‘two-track’ approach (‘governing the market’), as for instance pursued in China, seems to be more effective policy than moving directly from one extreme (central planning) to the other (a capitalist market economy).” “In more general terms it looks as if the present transition—the one leap “big bang” transition—is too abrupt and too extreme. […]

Notes “Explicit legal treatment of the rights of former owners not only strengthens the credibility of a country’s commitment to the rights of private property, but also prevents the legal confusion over ownership that could arise if the issue were left to be settle later in courts. However, redress should be provided to former owners […]

“The obstacle is political control if reform moves forward fast. We economists counter that if Cuba doesn’t reform fast the authorities will definitely lose control.” ‹ An unidentified economist in Cuba, quoted by Gillian Gunn in “Balancing Economic Efficiency, Social Concerns and Political Control,” La Sociedad Económica, Bulletin 42, 1994, p. 12. I.  Introduction The […]

Preface Although the Council of State approved legislation to allow foreign private investment in Cuba in the form of joint ventures as far back as 1982, it was not until the second half of the 1980’s that the authorities launched an aggressive campaign to attract foreign capital when the country entered into a severe economic […]