Cuba’s Communist leaders swept into power in 1959 and set about seizing private property — presumably for the benefit of the poor and to promote “equality.”
But as typically happens in such societies, the “equality” that resulted was “equal poverty.” Today, Communist Cuba is a land of grinding deprivation. Marxism has failed to bring about the supposed socialist paradise.
So it is interesting that Communist Cuba recently announced that it will permit the buying and selling of real estate for the first time in decades.
There are still some restrictions, of course, to make sure that no Cuban acquires what the government deems to be “too much” property. Real estate transactions will be closely monitored, and no one from outside Cuba will be allowed to buy any real estate there.
Does this small step toward property rights mean Communist Cuba is really interested in free-market reforms that could lift the nation out of poverty? It’s too early to know, but some people are optimistic.