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Reviews the developments in Cuba and their impact on issues on Cuba and socialism tackled by William Smaldone in an article in `Monthly Review' dated April 1996. Growth and transformation of the Cuban economy and the people since 1959; Errors in Smaldone's vision of the Cuban economy and ownership; Arguments against Smaldone's criticism of Cuba's democratic institutions.

The article presents information on economic and social transition in Cuba. The economic changes in Cuba include some critical issues like new modalities for essential international trade in Cuba, a fundamentally restructured agricultural sector, and a new banking system. A majority of non-state workers are self-employed and it is one of the main reason for the issue of capitalist restoration.