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Monday, October 4, 2010

postheadericon Cuba leading the way?

Here's an interesting lesson in labor economics, and one doesn't even need to leave the Western Hemisphere to learn it.

There's nothing new to the economic problems Cuba faces, particularly in these hard times. Even Fidel is not immune to a world slump.

But apparently, Havana is addressing its fiscal challenges in very unorthodox ways. It was recently reported that the Communist government is slashing upwards of 20 percent of the country's entire federal workforce in an effort to control costs. Yes, you heard correctly, the party's official trade union federation announced it would cut 500,000 public jobs over the next six months, followed by another half-million in the coming years. That's about one in every five Cuban state jobs.

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