Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Wednesday, August 03, 2005

Small-Business Capitalism Is Alive and Growing in Cuba

Peter Mork is traveling for the year. He spent some time in Cuba and discovered that the entrepreneurial spirit is alive among cottage capitalists. At his hotel, his maid handed him a card that turned out to be a small advertisement for her guest home.

The card told of her casa particular, a private room for rent out of her home, and she made a convincing sale. It was clean, had a balcony, her entire family was very honest, and best of all… it came at a very good price. It was a revealing moment when she put forth the amount ($25) she considered just compensation to host us in her home. For while, in theory, the exploitation of man by man should be banned under this socialist government, repeated experiences such as this one showed me that the desire to "exploit" was in fact alive and well in Cuba.

I wonder how secretive such private business inroads into the trade of the gubmnt monopolies must be. Castro has a history of not tolerating competition very well.

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