cover of episode What Makes an Economy Prosperous? Spotlight on Cuba and Argentina

What Makes an Economy Prosperous? Spotlight on Cuba and Argentina

2024/10/30
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David Stein: 我在2016年访问古巴时,发现古巴人民非常热情好客,并且展现出很强的创业精神。然而,古巴经济长期以来主要由国家控制,并尝试中央计划经济,导致经济状况持续恶化。物资短缺问题严重,电力短缺导致停水等问题,政府无力生产满足公民基本需求的物资,也没有开放经济以促进创新和创业。对古巴的经济制裁并没有取得预期效果,反而导致更多人离开古巴,损害了那些最不满的人。古巴人民渴望机会,想要创业,改善生活条件。 阿根廷经济长期以来政治不稳定,多次债务违约,通货膨胀率居高不下,严重影响了经济发展。米莱总统当选后采取了激进的改革措施,包括贬值比索、精简政府部门和取消租金管控等,这些措施对经济造成了巨大冲击,但也取得了一些积极成果,一些经济指标有所改善。然而,阿根廷仍面临巨大的债务偿还压力,贫困率高,失业率上升。 经济繁荣需要减少不确定性,控制货币供应量,保障公民的自由,拥有受过教育的劳动力,提高生产力,实现可持续发展,控制经常账户赤字,经济多元化,以及建立社会保障体系。虽然没有国家在所有这些方面都完美无缺,但这些都是经济繁荣的核心原则。美国是这方面做得比较好的例子,但它也面临着经常账户赤字、国债和人口增长放缓等问题。

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This chapter explores the dire economic situation in Cuba, marked by persistent energy blackouts, severe shortages of essential goods, and the limitations of the state-controlled economy. The challenges faced by everyday Cubans are highlighted, along with the impact of US sanctions and the government's inability to provide basic necessities.
  • Rolling blackouts affecting Havana and other areas for hours daily
  • Severe shortages of sugar, eggs, milk powder
  • Inability to purchase necessary fuel for power generation
  • State-controlled economy and lack of innovation

Shownotes Transcript

We explore eight things that contribute to a healthy, growing economy and where Cuba and Argentina have fallen short.

Topics covered include:

  • Why Cuba continues to have rolling energy blackouts
  • Why economic sanctions frequently don't work
  • How Argentina's President Millei is taking a "chainsaw" to the nation's economy
  • Why emerging markets will need to change their export-oriented growth trajectory
  • What are the risks to the long-term health of the U.S. economy

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Show Notes

Cuba is out of supplies and out of ideas—The Economist)

Cuba plunged into crisis by long power blackouts by Ed Augustin—The Financial Times )

Power Outage Plunges All of Cuba Into Darkness by Frances Robles—The New York Times)

Why Economic Sanctions Backfire: The Role of Emigration in the Venezuelan Case by Nicolás Idrobo—SSRN)

The Impact of the Cuban Adjustment Act on Cuban Immigrants in the US by Tamarys Bahamonde—SSRN)

How is Javier Milei performing after nearly 11 months in office? by Michael Stott and Ciara Nugent—The Financial Times)

The weakest links in the global economy are on the mend by Ruchir Sharma—The Financial Times)

Argentina’s poverty rate soars above 50% under Javier Milei by Ciara Nugent—The Financial Times)

Argentina Inflation Slows to 2021 Levels in Win For Milei by Manuela Tobias—Bloomberg)

Argentina’s economy minister strikes defiant note on default risk by Ciara Nugent and Michael Stott—The Financial Times)

Argentine Debt Rises Out of Distress Territory on Milei Reforms by Kevin Simauchi—Bloomberg)

Argentina Scrapped Its Rent Controls. Now the Market Is Thriving. by Ryan Dubé—The Wall Street Journal)

Developing Countries Can’t Count on Manufacturing to Supercharge Growth by Kai Schultz and Shruti Srivastava—Bloomberg)

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93: Capitalism, Complexity and Cuba)

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