Force of Fidel Castro’s economic thinking acknowledged in Cuba

Havana, Nov 17 (Prensa Latina) Cuban President Miguel Díaz-Canel on Friday attended a panel of economists who acknowledged the force of leader Fidel Castro’s thinking, who anticipated the current global economic and multifaceted crisis 40 years ago.

On the final day of the 14th International Meeting of Economists on Globalization and Development Issues, the force of the Cuban leader’s thinking was analyzed, four decades after the book “The Economic and Social Crisis of the World,” conceived by Fidel from his Marxist thinking and published in 1983 in a complex context that already foreshadowed the worsening of the global economic order.

When assessing the content and validity of the ideas contained in the book, Díaz-Canel stated that they achieved international mobilization based on the historic leader’s concept that the battles against neocolonization are won with culture and knowledge, because in socialist construction the people must be distinguished by these two heritages.

Researcher Faustino Covarrubias, from the Center for World Economy Studies, noted that the book provides sufficient weapons to understand that 40 years later the structural crisis of capitalism has turned it into a giant casino where financial capital rules with a very marked decline of the United States as a hegemonic power.

He considered in his analysis that even the International Monetary Fund and the World Bank, accustomed to masking realities, have accepted and announced that what is to come in the coming years is worse with global economic growth below two percent.

“Along with this prediction, there is already a big stagflation, that is, inflation with low or no economic growth, another element that puts capitalism on the path of a global crisis, which does not mean that it will fall under its own weight, if we don’t overthrow it, the expert warned.

In this regard, he invited the progressive forces from developing countries to intensify the struggle, as they are the usual victims, particularly those from Latin America, which has already accumulated two lost decades, and those from Africa, whose list of impoverished nations grew significantly, due to the current organic and multiple failure: economy, energy, food and environment.

Fidel predicted all these elements in his book, said the expert, who noted the failure of neoliberal policies, which is why four decades later, unfortunately, the world economic crisis is not ancient history, it is a sadder and harsher reality in a world on the brink of a nuclear war, Covarrubias stressed.


Ike Nahem

Ike Nahem is a longtime socialist, anti-imperialist, and Cuba solidarity activist. Ike is a retired Amtrak Locomotive Engineer, and proud member of the Brotherhood of Locomotive Engineers, a Division of the Teamsters Union, and Railroad Workers United. He is a founder and leader of the New York-New Jersey Cuba Si Coalition, and the International US-Cuba Normalization Conference Coalition. Ike is the author of numerous widely circulated essays including To the Memory of Malcolm X; Fifty Years After His Assassination; The Life of Fidel Castro: A Marxist Appreciation; and Political Legacies of the Cuban Missile Crisis. Ike can be reached at