Tag Archives: economy

Redefining Socialism in Cuba

US Secretary of State John Kerry travelled to Havana this past August for the flag-raising ceremony at the re-established US Embassy in Cuba. While this event was viewed as a landmark occasion by many in the United States, including the mainstream media, it was just the latest in a never-ending stream of landmarks for Cuba. From the victory of the socialist revolution in 1959 to emerging ties with the Soviet Union and the Socialist bloc during the 1960s to political and economic reforms in the mid-1970s to the disintegration of the Soviet Union and resulting “Special Period” during the 1990s to the far-reaching economic reforms of recent years. In other words, socialism in Cuba is not stagnant; nor is it reliant on US policy. To the contrary, Cuba’s socialism has constantly evolved as it has responded to both domestic and international conditions, and this constant redefining of the model continues today. Continue reading

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Even in a Recession, the Rich Get Richer

A new report on inequality in the United States reveals that the richest one percent of the nation’s income earners saw their income increase by 11.6 percent during 2009 and 2010, which accounted for 93 percent of the national growth in income for that time period. While those two years are considered to represent the early stages of an economic recovery following the recession of 2008, the fact that the bottom 99 percent of income earners only saw their incomes increase by 0.2 percent makes evident that the recession is still ongoing for many Americans. These numbers also highlight the structural inequality that is inherent in capitalism.

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