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Appearances Over Time

Podcast Appearances

Planet Money
Dark times for Cuba’s economic experiment

And now with everything going on, it's even worse.

Planet Money
Dark times for Cuba’s economic experiment

He says he hasn't even had a paying customer this year.

Planet Money
Dark times for Cuba’s economic experiment

And I'm Nick Fountain.

Planet Money
Dark times for Cuba’s economic experiment

Yasser's parents grew up in communist Cuba, where the state was in charge of everything.

Planet Money
Dark times for Cuba’s economic experiment

And now Yasser can't even plan for a phone call, much less run a business.

Planet Money
Dark times for Cuba’s economic experiment

It's complicated, he said.

Planet Money
Dark times for Cuba’s economic experiment

This is Ricardo Torres, an economist who we can speak with on the phone right now because he does have regular Internet and cell service.

Planet Money
Dark times for Cuba’s economic experiment

He's in Washington, D.C.

Planet Money
Dark times for Cuba’s economic experiment

He works at American University.

Planet Money
Dark times for Cuba’s economic experiment

Before 1959, Cuba was run by a dictator, and American companies ran most of Cuba's sugar fields and refineries, railroads, hotels, casinos.

Planet Money
Dark times for Cuba’s economic experiment

Then Cuban rebels overthrew the government and made Cuba into a socialist communist country.

Planet Money
Dark times for Cuba’s economic experiment

So at the outset, Cuba's economic strategy was lean on its communist friends, its compadres.

Planet Money
Dark times for Cuba’s economic experiment

The government gave people little ration books, little paper books that told them how much of what kind of food a person or a family could get in a given month at a given store.

Planet Money
Dark times for Cuba’s economic experiment

They also got access to an island 90 miles away from their mortal enemy, the United States.

Planet Money
Dark times for Cuba’s economic experiment

Right.

Planet Money
Dark times for Cuba’s economic experiment

And those post-Soviet countries stopped paying top dollar for Cuban exports.

Planet Money
Dark times for Cuba’s economic experiment

And sending Cuba cheap oil.

Planet Money
Dark times for Cuba’s economic experiment

But Ricardo says many Cubans still believed in the revolutionary dream.

Planet Money
Dark times for Cuba’s economic experiment

They didn't have material reserves, but they did have faith, what he calls moral reserves.

Planet Money
Dark times for Cuba’s economic experiment

And this was a moment where maybe Cuba had to reassess its strategy.