Some good news came out of Cuba came earlier this month in the form of privatization of property. This “nucleus of capitalism,” as it’s stated in the New York Times article, should likely lead to more general economic success in Cuba so long as the rights to property and the contracts on which the property is agreed are honored in a timely, consistent, and legitimate manner. This liberalization will likely lead to other reforms if done correctly, which could lead to further gains for the Cuban people in any number of sectors.
While it remains too early to tell whether Cuba will have the political will to see out the policy change to its full capacity, there is already evidence of the energy in the Cuban people for this much needed, long overdue change. The NYT article opens by describing an “eager” entrepreneur who is gearing up for change. This is likely to be true across the island, and will show that the policies, not the people, have been backwards for such a long time.Published in