Market capitalism finds its way to Cuba, slowly
Small beauty salons, with 3 seats or less are being privatized in Cuba. Fidel Castro nationalized all small businesses in 1968 and now his younger brother, Raul Castro is trying to modernize the system without jumping to full scale capitalism. The move is significant for small business owners who are not accustomed to working for themselves and will now have to pay rent for their locations and pay taxes.
BBC reporter, Michael Voss is in Cuba and explains how this group of business owners will have to rethink the way they do business. And Julia Sweig, director of the Latin America program at the Council of Foreign Relations explains the political significance of this move.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!