The economy of Cuba is a largely centrally planned economy dominated by state-run enterprises overseen by the Cuban government, though there remains significant foreign investment and private enterprise in Cuba. Most of the means of production are owned and run by the government, and most of the labor force is employed by the state, although in recent years, the formation of cooperatives and self-employment has been encouraged by the Communist Party. In the year 2000, public sector employment was 76% and private sector employment was 23% compared to the 1981 ratio of 91% to 8%. Capital investment is restricted and requires approval by the government. The Cuban government sets most prices and rations goods to citizens. In 2009, Cuba ranked 51st out of 182 with an HDI of 0.863; remarkably high considering its GDP per capita only places it 95th. Public services and transport in Cuba however are regarded to be second-rate compared its more developed counterparts on the mainland.
In the 1950s, Cuba had a vibrant but extremely unequal economy, with large capital outflows to foreign investors. The country has made significant progress since the Revolution towards a more even distribution of income. Despite the economic embargo by the United States, the economy grew at a rate higher than the rest of Latin America until the collapse of the Soviet Union, which provided Cuba with $4 billion to $6 billion in subsidies annually. Between 1990 and 1993, Cuba's GDP declined by 33%. Yet Cuba has managed to retain levels of healthcare and education.
Cuba, officially the Republic of Cuba, (i/ˈkjuːbə/; Spanish: República de Cuba, pronounced: [reˈpuβlika ðe ˈkuβa] ( listen)) is an island country in the Caribbean. The nation of Cuba consists of the main island of Cuba, the Isla de la Juventud, and several archipelagos. Havana is the largest city in Cuba and the country's capital. Santiago de Cuba is the second largest city. To the north of Cuba lies the United States (140 km or 90 mi away) and the Bahamas, Mexico is to the west, the Cayman Islands and Jamaica are to the south, and Haiti and the Dominican Republic are to the southeast.
In 1492, Christopher Columbus landed on and claimed the island now occupied by Cuba, for the Kingdom of Spain. Cuba remained a territory of Spain until the Spanish–American War ended in 1898, and gained formal independence from the U.S. in 1902. A fragile democracy, increasingly dominated by radical politics eventually evolved, solidified by the Cuban Constitution of 1940, but was definitely quashed in 1952 by former president Fulgencio Batista, and an authoritarian regime was set up, intensifying and catalyzing already rampant corruption, political repression and crippling economic regulations.Batista was ousted in January 1959 by the July 26 movement, and a new administration under Fidel Castro established, which had by 1965 evolved into a single-party state under the revived Communist Party of Cuba, which holds power to date.
Ronald Ernest "Ron" Paul (born August 20, 1935) is an American politician who has been the U.S. Representative for Texas's 14th congressional district, which includes Galveston, since 1997, and a three-time candidate for President of the United States, as a Libertarian in 1988 and as a Republican in 2008 and currently 2012. He is an outspoken critic of American foreign and monetary policies, including the Military–industrial complex and the Federal Reserve, and is known for his libertarian-leaning views, often differing from his own party on certain issues.
A native of Pittsburgh, Pennsylvania, Paul is a graduate of Gettysburg College and Duke University School of Medicine, where he earned his medical degree. He served as a medical officer in the United States Air Force from 1963 until 1968. He worked as an obstetrician-gynecologist from the 1960s to the 1980s, delivering more than 4,000 babies. He became the first Representative in history to serve concurrently with a child in the Senate when his son Rand Paul was elected to the United States Senate for Kentucky in 2010.