Fidel Castro's Cuban Communism nationalizes private institutions giving my family a significant sign that the worst was yet to come.
Fidel Castro proclaimed himself to be "a socialist, and Marxist–Leninist". As a Marxist–Leninist, Castro believed strongly in converting Cuba, and the wider world, from a capitalist system in which individuals own the means of production into a socialist system in which the means of production are owned by the workers. In the former, there is a class divide between the wealthy classes who control the means of production the factories, farms, media, etc.) and the poorer working classes who labor on them, whilst in the latter, there is a decreasing class divide as the government redistributes the means of production leading to communism. Castro used Leninist thought as a model upon which to convert the Cuban state and society into a socialist form.
On this date in history, 63 years ago, Castro’s government took a monumental step by confiscating US private businesses and branches of American banks on the island, all without compensation.
But that's not all, in October of 1960, Cuban-owned businesses, industries, and banks met the same fate. The ripples of these events have shaped our world in more ways than one.
Join us on a journey through time and explore our detailed historical timeline. Discover the stories and moments that defined generations