Independent structural adjustment: Cuban and neoliberal models compared (2003)

This article considers the capacity of small island and independent nation-states to recover from serious external economic crises by looking at the case of Cuba in the 1990s and comparing Cuban adjustment with adjustment in Thailand under an essentially IMF-controlled plan in 1997. Cuba had to restructure its socialist economy in the wake of the collapse of its trading relationship with the old Soviet Union and other Council for Mutual Economic Assistance countries. Continue reading “Independent structural adjustment: Cuban and neoliberal models compared (2003)”

Island Socialism: Cuban Crisis and Structural Adjustment (2002)

This paper summarises the political economy of the Cuban revolution, then analyses the impact of the COMECON collapse, the unique measures of Cuban structural adjustment in the 1990s, and the outcomes and new challenges for the Cuban political economy. It concludes that the Cuban experience identifies a viable alternative means for an independent state to deal with and stabilise severe external economic crisis, and that the reformed Cuban collective institutions have been strong enough and have sustained sufficient public support to withstand this crisis. Continue reading “Island Socialism: Cuban Crisis and Structural Adjustment (2002)”