January marks 50 years since the Cuban Revolution. In today’s Cato Daily Podcast, Project Coordinator for Latin America Juan Carlos Hidalgo discusses Fidel Castro’s takeover, the result of the revolution and offers advice to the Obama administration on reengaging with the small island nation.

“Cuba went from being one of the richest countries in Latin America to one of the poorest,” Hidalgo says. “After 50 years, the revolution has failed the Cubans.”