Series:

The MIT Press

2 total works

Cover of Cuba after Communism

In a fast-paced style that is both technically sophisticated and admirably free of economic jargon, Eliana Cardoso and Ann Helwege provide a much-needed roadmap for a peaceful and productive transition from communism to capitalism.

As once-powerful communist rulers flee their presidential palaces and centralized economies give way to free markets, the future of Latin America's last socialist country hangs in the balance. In a fast-paced style that is both technically sophisticated and admirably free of economic jargon, Eliana Cardoso and Ann Helwege provide a much-needed roadmap for a peaceful and productive transition from communism to capitalism. They vividly depict the tough choices facing Cuba in the years ahead, proposing a series of reforms to ease Cuba through a transition to capitalism while preserving some legitimate gains - such as those in education and health care - that socialism has provided the Cuban people. The authors begin with the crux of Cuba's predicament: it is an overly centralized single-crop economy that is fast running out of money, and it can no longer depend on privileged trade relations with the former Soviet Union. In this difficult period, Cuba faces the challenge of managing an increasingly chaotic, dysfunctional economy. Is Cuba's transition to capitalism bound to yield another Haiti? Cardoso and Helwege answer with a resounding no. They begin their analysis with a fascinating history of the political roots of Cuba, from Cuban "independence" after the Spanish-American War to the rise of Castro and the development of a socialist economy. After discussing the various economic alternatives from neighboring countries - models as diverse as those of Nicaragua, the Dominican Republic, Costa Rica, and Chile - the authors present a systematic program to help Cuba prevent economic decline and political chaos, involving rapid privatization and the attraction of foreign investment - while at the same time providing safeguards against the excesses and inequalities endemic to Latin American capitalism.

Cardoso and Helwege are authors of an undergraduate text, Latin America's Economy: Diversity, Trends, and Conflicts.

Cover of Latin America's Economy

Latin America's Economy

by Eliana A. Cardoso and Ann Helwege

Published 18 December 1991
"This is precisely the book that I have been waiting for. It is completely up to date, it deals with the most important questions, and the authors explain complex economic issues in simple and helpful ways, without loss of rigour or generality." -- David Hojman, "Journal of Latin American Studies" "An important book. . . . Few other single-volume surveys of the region have so skillfully brought to our attention the complex tapestry of modern Latin American political economy." -- Antonia Jorge and Paul Moncarz, "Journal of Developing Areas" "Latin America's Economy" provides a clear, comprehensive, and accessible overview of major economic issues facing Latin America today, including balance of payments problems, inflation, stabilization, poverty, inequality, and land reform. Each chapter centers on an economic problem, presenting major economic theories about the causes and possible solutions to the problem. The authors provide numerous cross-country examples to demonstrate how individual countries are affected by economic trends or policies. Chapters also include helpful summaries and ideas on what the future may hold.