Cuba currently greatly restricts and inhibits economic freedom, including private property rights and unregulated markets. What does economic growth models predict for this country’s future?
(Q#15) The U.S. is gradually normalizing relations with Cuba. As Cuba is currently a
poor country by global standards, there is great hope that it will come to
prosper in the coming decades. Yet, Cuba currently greatly restricts and
inhibits economic freedom, including private property rights and unregulated
markets. What does
future? This country’s prospects will likely:
(a) be good, provided that the government continues to prevent private companies
from setting high selling prices and low employee wages
(b) be poor, unless they can shift to a political and legal regime that supports robust
private sector activity, individual initiative and personal freedom
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
