Resource rich, result poor

People queue to try to buy basic food items outside a supermarket in Caracas, Venezuela. Photo: Reuters

If you work with the Government and are living in Caracas, you may have a lot of free time on your hands. Last month, the Venezuelan Government advised that civil servants only need to work two days a week.

Unfortunately, it’s not because they are so efficient that they can do a week’s worth of work in less than half the time. It’s because they are facing an energy crisis and are trying to reduce electricity use. On top of everything else, the country is on the brink of an economic collapse despite being a heavy exporter of oil. Or is it because of it?