How much lost prosperity did Fidel cost Cuba?....
A recent AEI paper by Latin American scholar Roger Noriega compares Cuba's 1959 & 2015 positions, over 56 years of Castroist rule.
Cuba's 2012 GDP was $121 billion according to CIA estimates; but the CIA has often overestimated economic growth in Communist countries, as with the Soviet Union and East Germany.
Thus i have chosen a set of online figures from the firm Trading Economics TE estimates GDP growth 1970 - 2015 from $6 billion in 1970--NOT 1960, for which I found no metrics except Noriega's assessment--to $68 billion in 2011. It seems reasonable to assume flat GDP growth in Cuba in the 1960s. In that span the island's population increased from 7 million in 1960 to 11 million by 2015. Its per capita GDP increased from $857 in 1960 to $6,180 in 2011, a 7-fold increase.
Spain's 1960 - 2013 GDP chart shows $12 billion GDP in 1960 & $1.35 trillion in 2013. Spain's population increased during that span from 30.5 million to 46.5 million in 2014. Its per capita GDP increased from $390 in 1960 to $29,000 in 2014, a 74-fold increase.
Portugal's 1960 - 2015 GDP chart shows $3 billion for 1960 & $220 billion in 2013. Its population increased from 9 million in 1960 to 10.5 million in 2014. Its per capita GDP increased from $333 in 1960 to $20,950 in 2014, a 63-fold increase.
Bottom Line. Spain's per capita GDP increase 10-1/2 times as much as that of Cuba over the half century, and Portugal's increased 9 times as much over the same span.
The basket-case economy created by the brothers Castro has, courtesy of President Obama's policy change, been given a new lease on life. Cubans seeking freedom & prosperity inside Cuba will, sadly, be the main losers.
Letter from the Capitol, LFTC, Economy, Conservative Politics