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Erika Barris

👤 Speaker
1329 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
Dark times for Cuba’s economic experiment

So a few years after the Soviet Union broke up and Cuba no longer had its help, Cuba, for the first time in decades, begrudgingly tried basically hanging out with some capitalist frenemies.

Planet Money
Dark times for Cuba’s economic experiment

In 1993, Cuba started its first experiment in capitalism since the revolution.

Planet Money
Dark times for Cuba’s economic experiment

I'm going to call it Caribbean communism, but with a teeny tiny capitalist exception.

Planet Money
Dark times for Cuba’s economic experiment

Ricardo says this was supposed to be temporary.

Planet Money
Dark times for Cuba’s economic experiment

But it was a big deal.

Planet Money
Dark times for Cuba’s economic experiment

Yes.

Planet Money
Dark times for Cuba’s economic experiment

Before, everyone was employed by Cuba.

Planet Money
Dark times for Cuba’s economic experiment

But now, Cubans could be self-employed, have their own businesses.

Planet Money
Dark times for Cuba’s economic experiment

In the U.S., this made sense.

Planet Money
Dark times for Cuba’s economic experiment

Big news.

Planet Money
Dark times for Cuba’s economic experiment

Basically, anything meaningful to a business was not up to you.

Planet Money
Dark times for Cuba’s economic experiment

It was up to the state.

Planet Money
Dark times for Cuba’s economic experiment

So this was a tiny first move.

Planet Money
Dark times for Cuba’s economic experiment

The number of people working in small businesses was really small.

Planet Money
Dark times for Cuba’s economic experiment

Cuba further developed its relationship with China.

Planet Money
Dark times for Cuba’s economic experiment

But the biggest alliance that Cuba made during this time was with Venezuela, the land of oil.

Planet Money
Dark times for Cuba’s economic experiment

Ricardo says in the year 2000, Venezuela and Cuba agreed to their own sort of trade deal.

Planet Money
Dark times for Cuba’s economic experiment

Teachers, doctors, also boxing and baseball coaches.

Planet Money
Dark times for Cuba’s economic experiment

In the early 2000s, Ricardo got a job teaching economics in Havana.

Planet Money
Dark times for Cuba’s economic experiment

As an academic, he was able to visit Europe and the U.S.