Welcome to communism and state control. Now Cubans can buy as much as they want of peas and potatoes. Only problem is that now the prices are 20 times as much. Controlling the cost of basics is quite important in many poor countries but Cuba of course has to take it to the extreme. Reminds me of the fact that the price of bread in erstwhile USSR didn't change for decades altogether and then in the end, the cost of maintaining a highly controlled militaristic subsidised society made it implode. Welcome to subsidies hell. And like all subsidies, they end up distorting the market, create weird incentives and ultimately fail to meet the objectives.
Showing posts with label Cuba. Show all posts
Showing posts with label Cuba. Show all posts
Friday, November 13
Tuesday, March 17
What is the link between Cuba and Islam?
Geddit? This is perhaps the first time that I have linked Cuba and Islam together :)
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