10/12/2012 01:28 pm ET Updated Dec 06, 2017

Cuba Loosens Grip on Economy (VIDEO)

The Cuban government is relaxing its grip on the island's socialist economy, allowing the legal creation of private enterprise for the first time since the 1959 revolution.

In a bid to kickstart the sluggish economy and create jobs, the move is transforming the nation of 11 million people, as thousands acquire licenses to launch their own businesses.

This may cause social tension since now a business owner can make much more money than doctors or teachers.

Storyhunters Bill Gentile and Esther Gentile document these new developments in our latest dispatch:

Cuba Loosens Grip on Economy from Storyhunter on Vimeo.

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