Michael Munger, who will be guest-blogging here next week, has recently visited Cuba.
Our hosts were professors and were also well paid, earning in some cases more than $20 per month. The idea that someone would pay nearly $30 to make 18 overheads, on his own, amazed them. I later found out that many of the professors also drove taxis on nights and weekends, since they could make a month’s salary in tips in a couple of days.
For Discussion. If Cuba decides to end its socialist experiment, how might it make a better transition to capitalism than have the former Soviet Republics? [note: I mistakenly wrote “transition to Communism” before]