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Che Guevara: The Economics of Revolution
Che Guevara remains an iconic figure, four decades after his death. Yet his most significant contribution - his work as a member of the Cuban government - is rarely discussed. This book explores his impact on Cuba's economy, through fascinating new archival material and interviews.
367 pages, Paperback
First published January 1, 2009
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Displaying 1 - 11 of 11 reviews
June 1, 2021
Really excellent, tightly focused study of Che Guevara's work consolidating the Cuban revolution as the head of its national bank and ministry for industry. Che, and in particular his economic writings during this period, are used by Yaffe as a framework for a much more fundamental commentary on the white hot debates on how to construct a socialist economy almost from scratch which took place in Cuba in the 1960s.
This book is a must read for those interested in the history of Cuba, especially as it gives a nuts and bolts account of how socialist construction actually took place during the post-revolutionary years, differentiating it from the majority of histories which tend to focus on the international political scene.
It will also provide endless fascination for those genuinely interested in Marxist political economy, particularly for its rigorous and detailed cross examination of the myriad differences between Cuban and Soviet economics. This is an especially useful intervention as Cuba is often considered to have adopted the Soviet system wholesale, which only appears truthful when the economy of revolutionary Cuba is compared to pre-revolutionary capitalism. In actual fact, Helen Yaffe presents us with Che Guevara's left wing critique of Soviet state capitalism - made from the perspective of an actually existing state building project, differentiating it from the endless Trotskyist waffle which usually sucks the air of out this field.
This is not a layman's history, but a deeply focused discussion on the theory and practice of Cuban economic and social policy, and how they interacted with the process of industrialisation in the 1960s. It's not cheap or easy to get hold of, but worth the investment if this is your specialist field. I found myself so enthused by it that I intend to move straight on to Helen Yaffe's new book, We Are Cuba!: How a Revolutionary People Have Survived in a Post-Soviet World to find out how the story developed from the 1970s onwards.
This book is a must read for those interested in the history of Cuba, especially as it gives a nuts and bolts account of how socialist construction actually took place during the post-revolutionary years, differentiating it from the majority of histories which tend to focus on the international political scene.
It will also provide endless fascination for those genuinely interested in Marxist political economy, particularly for its rigorous and detailed cross examination of the myriad differences between Cuban and Soviet economics. This is an especially useful intervention as Cuba is often considered to have adopted the Soviet system wholesale, which only appears truthful when the economy of revolutionary Cuba is compared to pre-revolutionary capitalism. In actual fact, Helen Yaffe presents us with Che Guevara's left wing critique of Soviet state capitalism - made from the perspective of an actually existing state building project, differentiating it from the endless Trotskyist waffle which usually sucks the air of out this field.
This is not a layman's history, but a deeply focused discussion on the theory and practice of Cuban economic and social policy, and how they interacted with the process of industrialisation in the 1960s. It's not cheap or easy to get hold of, but worth the investment if this is your specialist field. I found myself so enthused by it that I intend to move straight on to Helen Yaffe's new book, We Are Cuba!: How a Revolutionary People Have Survived in a Post-Soviet World to find out how the story developed from the 1970s onwards.
September 27, 2024
It is difficult to write a review of this work. I took more notes than I have for a book in a very long time. Yaffe's work here is excellent, almost unparalleled—illuminating a critique of Soviet economic planning, including both the Stalin and post-Stalin era, from a genuine Marxist-Leninist position that doesn't fall into ultraleft fetishization of form over content like with Bordiga's work or the relatively unhelpful geopolitical posturing of Che's Maoist contemporaries. Similar to Nick Knight's work on Mao's philosophical notes, my only possible critique of Yaffe's work is not her work, but that I cannot read Guevara's critique of the Soviet Manual for myself. This is a text that should be required reading for any Marxist: a historical examination of the contest between material and moral incentives in practice, and a look into genuine critique of Soviet political economy from a constructive and revolutionary standpoint.
September 18, 2020
Immensely valuable and exhaustive. I might put some extended reflections on my baby blog later, but for now I’ll say that if you’re interested in thinking through the question of what socialism actually means— through the difference between socialism in name and socialism in fact, you will find plenty of concise and useful examinations within these pages.
For those who may feel somewhat disillusioned after encountering the problems that were not overcome within other socialist projects, or after encountering the theoretical and practical errors of contemporary organizations that would attempt to build socialism anew, this book will feel like a breath of fresh air— a (personally, much-needed) reminder that past and present failures are not inescapable.
The section on the ‘Great Debate,’ which covered financial autonomy for enterprises and material incentives for workers, is eye-opening and frankly indispensable. The section on Che’s critique of the Soviet Manual of Political Economy—covered extensively in these pages for the first time, 40 years after its genesis—is no less interesting. Both are worth visiting even if you don’t have the time to devote to the rest of Yaffe’s very detailed scholarship.
It’s hard to fault a book for being what it set out to be—a look at Che’s individual contribution to socialist political economy—but I would have enjoyed this even more if there had been a little bit more investigation into the Marxist base of Che’s (incredibly useful) constructive critiques of soviet economic planning. What we get instead—a very thorough look at all (?) of the programs instituted by Che during his time at the head of the Cuban Ministry of Industries (early 60s)—does not always make for a page-turner.
A better way of putting this: The theoretical impasses and potential solutions identified by Che are so interesting (and honestly intuitive), that one wants to spend more time analyzing them and wishes the author would do the same. I suppose that’s for the reader, inspired by Yaffe’s genuinely pathbreaking work, to undertake.
For those who may feel somewhat disillusioned after encountering the problems that were not overcome within other socialist projects, or after encountering the theoretical and practical errors of contemporary organizations that would attempt to build socialism anew, this book will feel like a breath of fresh air— a (personally, much-needed) reminder that past and present failures are not inescapable.
The section on the ‘Great Debate,’ which covered financial autonomy for enterprises and material incentives for workers, is eye-opening and frankly indispensable. The section on Che’s critique of the Soviet Manual of Political Economy—covered extensively in these pages for the first time, 40 years after its genesis—is no less interesting. Both are worth visiting even if you don’t have the time to devote to the rest of Yaffe’s very detailed scholarship.
It’s hard to fault a book for being what it set out to be—a look at Che’s individual contribution to socialist political economy—but I would have enjoyed this even more if there had been a little bit more investigation into the Marxist base of Che’s (incredibly useful) constructive critiques of soviet economic planning. What we get instead—a very thorough look at all (?) of the programs instituted by Che during his time at the head of the Cuban Ministry of Industries (early 60s)—does not always make for a page-turner.
A better way of putting this: The theoretical impasses and potential solutions identified by Che are so interesting (and honestly intuitive), that one wants to spend more time analyzing them and wishes the author would do the same. I suppose that’s for the reader, inspired by Yaffe’s genuinely pathbreaking work, to undertake.
December 8, 2025
The early chapters regarding the different approaches, centred around the struggle between the budgetary finance system (BFS) and the automatic financing system (AFS), provide a really solid insight into the practical conflicts which arose between a revolutionary socialist movement and the influence of Soviet revisionism.
However as the book goes on Dr. Yaffe increasingly reveals:
(i) Her understanding of the history of the Soviet Union is lacking and erroneous. Yaffe's tracing the origins of the AFS of the 1960s to the New Economic Policy (NEP) of the 1920s shows a clear lack of knowledge on the events which bridged the 40 years between these periods. Specifically the moving away from concessions to private property under the NEP towards socialist construction and the liquidation of private property which was carried out under the first five year plan starting in 1928. Her analysis is semi-trotskyist at best - seeking an excuse to make this into a condemnation of Stalin rather than making any accurate analysis of what unfolded in the USSR. She goes so far as to cite Stalin's Economic Problems of Socialism in the USSR and then states that Stalin held a position which is completely the opposite of what the man had argued for in that cited work. This is an often dishonest work, whether it means to be or not is irrelevant, and should face greater scrutiny from readers.
(ii) Her treatment of Guevara often moves into the realm of hero worship and great man history. On more than one occasion Yaffe attributes theoretical concepts as having sprung fully formed from the singular genius of Che Guevara just as Minerva sprang out from the brow of Jove. Typically however these theoretical concepts end up being the standard conclusions which Marxism-Leninism had developed decades prior to Guevara's political career. There are also many instances in which the ideas of Guevara are praised when they should have been criticized for errors ranging from paternalism to eugenics.
I worry that this work spends too much time building up Guevara as if he were some prophet of the revolution and too little time concerning itself with either disseminating historical truth or building a practical understanding of socialist construction. I will defend the early chapters for their drawing of a clear line between the AFS and BFS but beyond this I wish the work had treated Guevara and his work with a more critical eye and was more accurate regarding historical and theoretical positions of the various actors on the stage.
However as the book goes on Dr. Yaffe increasingly reveals:
(i) Her understanding of the history of the Soviet Union is lacking and erroneous. Yaffe's tracing the origins of the AFS of the 1960s to the New Economic Policy (NEP) of the 1920s shows a clear lack of knowledge on the events which bridged the 40 years between these periods. Specifically the moving away from concessions to private property under the NEP towards socialist construction and the liquidation of private property which was carried out under the first five year plan starting in 1928. Her analysis is semi-trotskyist at best - seeking an excuse to make this into a condemnation of Stalin rather than making any accurate analysis of what unfolded in the USSR. She goes so far as to cite Stalin's Economic Problems of Socialism in the USSR and then states that Stalin held a position which is completely the opposite of what the man had argued for in that cited work. This is an often dishonest work, whether it means to be or not is irrelevant, and should face greater scrutiny from readers.
(ii) Her treatment of Guevara often moves into the realm of hero worship and great man history. On more than one occasion Yaffe attributes theoretical concepts as having sprung fully formed from the singular genius of Che Guevara just as Minerva sprang out from the brow of Jove. Typically however these theoretical concepts end up being the standard conclusions which Marxism-Leninism had developed decades prior to Guevara's political career. There are also many instances in which the ideas of Guevara are praised when they should have been criticized for errors ranging from paternalism to eugenics.
I worry that this work spends too much time building up Guevara as if he were some prophet of the revolution and too little time concerning itself with either disseminating historical truth or building a practical understanding of socialist construction. I will defend the early chapters for their drawing of a clear line between the AFS and BFS but beyond this I wish the work had treated Guevara and his work with a more critical eye and was more accurate regarding historical and theoretical positions of the various actors on the stage.
April 2, 2023
The introductory chapters on BFS, the realities of attempting to create socialism in the face of underdevelopment and blockade, the critique of the soviet political economy manual… all had me buzzing. It sounds like an exciting and absolutely exhausting time.
The fact that Che seriously approached Das Kapital as the foundation for his analysis and then was challenged to apply it to reality in the midst of ongoing debate is just wild!! Some chapters very repetitive.
The fact that Che seriously approached Das Kapital as the foundation for his analysis and then was challenged to apply it to reality in the midst of ongoing debate is just wild!! Some chapters very repetitive.
Read
March 26, 2023
This is a good source for understanding Cuba. It explains the reasoning for the formation of the Cuban economic and political system through the guidance of Marxist thought. What started off as merely a nationalist decolonization of Cuba from foreign US corporations soon transformed into a socialist experiment headed by the efforts of Che Guevara. Guevara is mostly remembered for his revolutionary exploits and charming portrait but many people do not realize that the man was also an academic and commanding statesperson. This book examines his contributions to the Cuban socioeconomic system and the template of socialism that he has left behind for other Latin American countries to emulate.
Guevara was absolutely pivotal for the formation of the Budgetary Finance System (BFS) which consisted of a centralized economy with the goal of fostering class consciousness instead of the capitalist mechanisms upon which the Soviet Union depended. Especially inside the Soviet bloc, Guevara's ideas were seen as heretical. But not only was Guevara insistent upon the plurality of theories to debate and find the most efficient system, but he was also successful at creating a social system that reflected these values all the way down to the worker committees which assembled to provide input and vote on changes inside the workplace. While there are parts of the book where it really goes deep into an explanation of Marxist principles, such as the labor theory of value which still isn't all that clear to me, you can gain a great overall insight into how Cuba works by taking a look at its initial formation.
Summarizing the absolute monster of the Marxist and economic theory discussed in this book is just not possible; there are way too many caveats and rabbit holes through which we could find ourselves falling for lifetimes. I think it's absolutely crucial for Americans to understand what leads to the formation of thoughts totally radical to our sense of comfort and ideological security. It's important to realize that thought doesn't simply pop up out of a vacuum but is instead the development of different material, historical, and idealist forces! For Cuba and other countries in Latin America, their revolutions were reactions to colonialist forces that continued to exploit the resources, profits, and health of society up until the mid-20th century. I think that especially for American audiences when it comes to attempting to understand people and thought that have historically been vilified, you should remember, You are not immune to propaganda!
There's too much to say, too many observations and principles and theories and quotes that it's best left to the prospective reader to investigate for themselves the pages of this book.
My notes: https://drive.google.com/file/d/14_lk...
June 6, 2019
Yaffe does a very good job of making concise, detailed arguments, validated with a fair amount of historiography and evaluation of sources that bring a sobering, refreshing amount of self-awareness that I often find lacking in the works of Revisionists and Western historians alike. As a reader hoping to further her superficial understanding of Cuba's revolution, the author's exactitude and evident thorough understanding of the topic proved to be excellent vessels for education. Yaffe's angle aptly sheds light on the various mechanisms of Castro's regime as well as Guevara's role within it.
September 17, 2015
611 - 2015
Speechless.
What a leader, not just in revolutionary guerilla war, but in revolutionary economic development from scratch.
Susah bagiku untuk mengomentarinya dengan layak, dan terlalu banyak hal dari buku ini yang bisa jadi pelajaran bagi kita semua.
*sigh, aku terlalu lama tenggelam di dunia kapitalis*
Speechless.
What a leader, not just in revolutionary guerilla war, but in revolutionary economic development from scratch.
Susah bagiku untuk mengomentarinya dengan layak, dan terlalu banyak hal dari buku ini yang bisa jadi pelajaran bagi kita semua.
*sigh, aku terlalu lama tenggelam di dunia kapitalis*
March 21, 2024
A very long but very detailed and useful book about recreating a more just economic system in the context of siege, underdevelopment and dependency. Very useful conceptual debates about the Soviet economic model and its drift towards capitalist forms of socialization.
July 11, 2016
Sebagai seorang revolusioner ahli perang gerilya, Che Guevara ternyata memiliki pemikiran yang begitu detail dan sistematis mengenai sistem ekonomi yang menurutnya pantas diterapkan untuk Kuba dengan kondisi masyarakat yang masih terbiasa dengan sistem kapitalisme pasca rezim Fulgencio Batista yang didukung AS tumbang. Che memikirkan dan mencari cara-cara mengatasi persoalan ekonomi yang dihadapi Kuba saat ia menjabat Gubernur Bank Nasional dan Menteri Perindustrian dengan berpegang teguh pada pemahamannya akan sosialisme, sehingga ia tidak menelan begitu saja sistem ekonomi yang digunakan oleh Uni Soviet sebagai sekutu utama Kuba dan negara pemimpin blok kiri. Alih-alih, ia menunjukkan ketidaksetujuan mendalam akan sistem ekonomi yang diterapkan Uni Soviet yang menurutnya sarat akan unsur-unsur kapitalisme lewat kritiknya akan Manual Ekonomi Politik Soviet (meskipun tulisan kritik ini tidak dipublikasikan sampai 40 tahun kemudian karena kekhawatiran ia akan dianggap sebagai seorang revisionis atau Trotskyis). Che juga tidak setuju dengan sistem koperasi yang menurutnya tidak mencerminkan sistem kepemilikan sosialis dan masih kental dengan dorongan-dorongan ekonomi kapitalis.
Buku tebal ini sungguh bisa membuka wawasan dan sudut pandang sehingga mengingatkan saya pada kalimat yang saya dapatkan dari kelas Antropologi Globalisasi dulu waktu kuliah, "Another world is possible." Di tengah sistem ekonomi Indonesia yang sungguh kapitalis akut ini, membaca buku ini membuat mata kita terbuka bahwa sistem ekonomi lain itu ada dan bisa diterapkan dan sudah ada contohnya di Kuba. Satu hal yang saya hargai betul dari Che adalah, dalam memberi ganjaran bagi pekerjaan yang dilakukan oleh para pegawai dan buruh, ia selalu mengutamakan insentif moral dibanding insentif material. Selain itu, ia juga mencoba membangun kesadaran bahwa kerja yang kita lakukan dilakukan untuk produksi-sosial, bukan produksi-laba, artinya kerja kita dilakukan sebagai proses untuk memperbaiki kondisi masyarakat di mana kita menjadi bagiannya, sehingga kerja menjadi sebuah tanggung jawab sosial, bukan sebagai laku individual untuk mencari nafkah dan memperkaya diri atau untuk memaksimalkan laba produksi. Di situ kadang saya memikirkan tentang pekerjaan saya saat ini.
Buku tebal ini sungguh bisa membuka wawasan dan sudut pandang sehingga mengingatkan saya pada kalimat yang saya dapatkan dari kelas Antropologi Globalisasi dulu waktu kuliah, "Another world is possible." Di tengah sistem ekonomi Indonesia yang sungguh kapitalis akut ini, membaca buku ini membuat mata kita terbuka bahwa sistem ekonomi lain itu ada dan bisa diterapkan dan sudah ada contohnya di Kuba. Satu hal yang saya hargai betul dari Che adalah, dalam memberi ganjaran bagi pekerjaan yang dilakukan oleh para pegawai dan buruh, ia selalu mengutamakan insentif moral dibanding insentif material. Selain itu, ia juga mencoba membangun kesadaran bahwa kerja yang kita lakukan dilakukan untuk produksi-sosial, bukan produksi-laba, artinya kerja kita dilakukan sebagai proses untuk memperbaiki kondisi masyarakat di mana kita menjadi bagiannya, sehingga kerja menjadi sebuah tanggung jawab sosial, bukan sebagai laku individual untuk mencari nafkah dan memperkaya diri atau untuk memaksimalkan laba produksi. Di situ kadang saya memikirkan tentang pekerjaan saya saat ini.
April 16, 2024
If there is one book about Guevara I would recommend anyone & everyone read...this would be that book. Your respect for Guevara & the Cuban revolution ( regardless of where it is atm) is sure to reach unfathomable heights.
I have read my fair share of books on this topic but none come even remotely close to this one. 10 stars forget 5.
Excellent work by Dr Yaffe.
I have read my fair share of books on this topic but none come even remotely close to this one. 10 stars forget 5.
Excellent work by Dr Yaffe.
Displaying 1 - 11 of 11 reviews