Figure 1.--Here we see a family in front of their hut in rural Cuba perhaps during the early 1930s. Cuba after independence developed the strongest economy in the Caribbean. There was rural poverty, especially among the former slave population. Cuba had the largest and most prosperous middle-class in the Caribbean and there were strong labor unioms. Something like a third of the population. The population was divided roughly evenly between urban and rural residents. There were many small landowners. Families like this lived off a small dubsistence plot and farm labor often on the sugar cane plantations.

Native Ameicans in the Caribbean practice subsistece agriculture along with hunting and fishing. European colonialism began with the Spanish in the Caribbean which is where Columbus landed on his first voyage (1492). The Spanish quickly lost interest in the Caribbean (the Spanish Main) when the native population which they could enslave began dying from European diseases and did not have what the Spanish most wanted--gold and silver. The Spanish focs shifted to the mainland. They did not even bother settling many of the islands. Other European countries (Denmark, England, France, and the Netherlands) began settling the islands. Gold and silver from the America would have a huge impact on Rurope. It would not come from the Caribbea, but had to be ranported though the Caribbean. As a result of the sugar and the African slave trade, these islands became some of the most valuable possessions on earth. Only the plantation owners benefitted amd the mother countries benefitted. The plantations were essentially brutal death camps for the captive Africans working there. After emancipation and the decline of the sugar industry, the Caribbean became an economic backwater with the largely black populations living in poverty. The economic situation on most of the islands have improved since independence, but income levels tend to be far below that of Europe and North America. The Caribbean economies continue to depend largesly on agriculture and now the tourism industries. A few islands have valuable mineral resources: Cuba (nickle), Jamaica (bauxite), and Trinidad (oil). The larger islands have tried to encourage the industrial development with with mixed results. Average income varies greatly from island to island. The Bahamas had the highest annual per capita income, largely because of tourism. Trinidad and Tobago has relatively high income, in part because of the oil sector. Haiti and Cuba have the lowest per capita income. What is not clear is if the Caribbean islands are capable of developing modern economies with European/North American income levels. An if not, what are the impediments. Fidel Castro believed that capitalism and America imperialism were the imediments. And in breaking with the United States and adopting a socialist economy, he only suceeded in turning the prosperous Cuban economy into one of the poorest countries in the region.

Economic History

Native Ameicans in the Caribbean practice subsistece agriculture along with hunting and fishing. European colonialism began with the Spanish in the Caribbean which is where Columbus landed on his first voyage (1492). The Spanish quickly lost interest in the Caribbean (the Spanish Main) when the native population which they could enslave began dying from European diseases and did not have what the Spanish most wanted--gold and silver. The Spanish focs shifted to the mainland. They did not even bother settling many of the islands. Other European countries (Denmark, England, France, and the Netherlands) began settling the islands. Gold and silver from the America would have a huge impact on Rurope. It would not come from the Caribbea, but had to be ranported though the Caribbean. As a result of the sugar and the African slave trade, these islands became some of the most valuable possessions on earth. Only the plantation owners benefitted amd the mother countries benefitted. The plantations were essentially brutal death camps for the captive Africans working there. After emancipation and the decline of the sugar industry, the Caribbean became an economic backwater with the largely black populations living in poverty. The economic situation on most of the islands have improved since independence, but income levels tend to be far below that of Europe and North America.

Sectors

The Caribbean economies continue to depend largesly on agriculture and now the tourism industries. A few islands have valuable mineral resources: Cuba (nickle), Jamaica (bauxite), and Trinidad (oil). The larger islands have tried to encourage the industrial development with with mixed results.

Income Levels

Average income varies greatly from island to island. The Bahamas had the highest annual per capita income, largely because of tourism. Trinidad and Tobago has relatively high income, in part because of the oil sector. Haiti and Cuba have the lowest per capita income.

Potential

What is not clear is if the Caribbean islands are capable of developing modern economies with European/North American income levels. An if not, what are the impediments. Fidel Castro believed that capitalism and America imperialism were the imediments. And in breaking with the United States and adopting a socialist economy, he only suceeded in turning the prosperous Cuban economy into one of the poorest countries in the region.

Countries

The European conquest of the Americas began in the Caribbean with Columbus' First Voyage (1492). The Spanish were disappointed with what became known as the Spanish Main. There was little gold and the Ameriindians began to die meaning there were no labor to work the Land. The Spanish and Portuguese focused on the mainland (16th century). And the Spanish found the gold they were looking forward. Islands that the Spanish saw as of little worth soon prove to be some of the most valuable realestate. in the world. The Dutch, English, and French imprted captive Africans and converted the islands into sugar islands. Even small islands like Barbados created vast wealth. The most valuable island possession was French Haiti because of it size. The sugar islands were essentially death camps requiring constant shipments of captive Africans to replace those who died in the sugar plantations. After the Napoleonic Wars and the British Royal Navy campign against slvery, the industry was no longer sustaninable. And it in no way benefited the people who came to populate the islands. Sugar was still produced and the Spanish finally began producing it on Cuba, the largest Caribbean island. Much of he Caribbean declined into poverty and subsistence agriculture. An exception became Cuba which the United states helped liberate from Spain (1898). Cuba became one of the wealthiest counties in Latin America. Fiedel Castro's Communist Revolution has turned once flourishing Cuba into an economic disaster. The rest of the Caribbean has higly caried economies ranhing from poverty sticken Haiti to the Cayman Islands with high income levels. The Caribbean islands have few natural resources. Cuba has nickle. Jamaica has bauxite. Tinidad has oil. The orincipal resource is, however, climate and beaches making possible important tourist industries. Some islands have achieved some success success with financance and banking. It is unclear just what economic future of the Caribbean is. One problem is that the public school system on mist islands is not of high quality. a serious problem in an increasingly competive global economy. A region without natural resources has to develop its human resources which most Caribbean island have not done. Ironically, the one country that has put a priority on education is Cuba, but the coubtry's Communist system does not allow the people to make use of the the skills developed.

Created: 1:31 AM 4/13/2019
Last updated: 1:31 AM 4/13/2019