"Most people today think of Che Guevara as a revolutionary who fought against capitalism, authoritarianism and US imperialism. Less well known is that Guevara was central to the creation of Cuba’s economic policy in the early 1960s; policies that remain largely unchanged. He ran the land reform programme, was President of the National Bank of Cuba, Minister of Industry, member of the National Directorate for the economy, member of the Council of Ministers, and chief negotiator with the Soviet bloc. Guevara would steer Castro and Cuba towards a Marxist economy. He led the collectivisation and nationalisation of agriculture; nationalised virtually all industrial and commercial activity; introduced central planning; established price controls and rationing; replaced the currency and seized most savings; set the wage levels of all jobs; set industrial policy and investment; and controlled all foreign exchange and bartered with Russia, China and other communist countries."
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Original Language: English
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Sources
Neil Monnery (2019). Che Guevara’s Cuba and John Cowperthwaite’s Hong Kong: a six-decade natural experiment. London School of Economics Blogs.
https://en.wikiquote.org/wiki/Che_Guevara
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