Estimado TSJ, Nos enteramos de que rechazaste la demanda que Transparencia Venezuela interpuso contra el presidente del BCV, Nelson Merentes, por no publicar indicadores macroeconómicos, por considerar que no presentaron “ninguna prueba” que demuestre que le solicitaron cumplir con su obligación de publicar “las principales estadísticas económicas del país”. Somos economistas, así que no nos movemos…
It’s undeniable that Venezuelan society is sexist. From the silly facts – the women can flutter their eyelashes at male waiters to get an extra basket of bread, while men are [supposedly] better than women at changing tires – to the very real but horrible fact that a more than capable woman might not get hired when…
Have you ever wondered where it all started? Bachaqueo, I mean – standing in line waiting to purchase price-controlled products in order to resell them in the black market. As I learned on my recent trip to Maracaibo, local lore has it that after gasoline smuggling had become a common reality in this border state, bachaqueo was born in a…
I recently saw “Inside Out” [If you haven’t seen it, GO NOW!]. The film made me realize that we always talk about the economic crisis, but we rarely talk about what we think and feel during the time we stand in line, in las colas. This is the story of how a simple task became a roller-coaster…
At times, it can seem like Venezuela is going to hell in a hand basket, but not everything is getting worse. Caraqueños are noticing one source of misery actually improving: traffic jams. In recent months, my travel time at rush hour –around 5:30 pm- has dropped by almost half: from over 90 minutes to little under…
Many would say there is clash between Caraqueños – Venezuelans born in Caracas – and Maracuchos or Marabinos –Venezuelans born in Maracaibo; e.g. Pablo Pérez and Juan Cristóbal Nagel. But I could only speak from the Caraqueño side of the quarrel. Until now that is. I spent a weekend in Maracaibo and this was my first contact…
Venezuela is known for its beautiful women –if we are allowed to say so ourselves. But our high beauty standards are expensive, and no stranger to scarcity. So a negative involuntary consequence –what us economist usually call a “negative externality”- of the current economic crisis is that we are becoming less and less tidy, stylish, and…
On Friday afternoon, my dad sent me a cryptic text: “Anabella. Sábado A Las Ocho. Leche En Polvo. Nuestro Gama. Cédula Tuya y Mami”. (Anabella – Saturday at eight. Powdered milk. Our Gama (local grocery store). Yours and your mother’s ID card day) When he sent that text, my dad was leaving a supermarket that…
According to IMF statistics, Japan’s general government’s gross debt for 2015 is 246% of GDP: the government owes 2.46 times as much as the Japanese economy as a whole produces in a year. For Italy, the number is 134%. The United States? 105%. And for Venezuela? A tiny 40%. See, we’re doing great, right? Except, of…
It’s MY day. It’s not my birthday. And Saint Anne’s Feast Day is July 26th. It’s my day because, on Tuesdays, Venezuelans with ID numbers ending in 2 and 3 can buy price-controlled products in a supermarket that I’ll call the No-Kwik-E-Mart. Since this is Holy Week holiday, I decide to venture out and stand in line,…
Dear reader, Are you tired of the delays in the publication of official economic statistics? Do you feel a desperate urge to measure the magnitude of the economic crisis? We bring you the solution. Here are our tips on how to create your very own set of economic indicators. Step 1: define what you want to measure.…
(Sorry, this one is in Spanish) Junto con la inseguridad, la economía pasó a ser la principal preocupación de los venezolanos, llevándolos a querer estar cada vez más informados sobre las causas de lo que ocurre y la manera en que afecta su día a día. Ante esta creciente demanda de información, creemos fundamental que…
About a month ago, Juan saw this tweet: Since we both are in similar situations, and hold similar opinions, he asked us to jot down some ideas on why we choose to stay. And Juan doesn’t know it, but his request struck a chord with both of us. Leaving is not an option for most Venezuelans (even though most…
On Friday, January 2nd, Brent crude oil prices closed at around US$57 per barrel. Two days later, an alarmed Nicolás Maduro announced that he would travel to China for the China-Celac Forum, and to several OPEC and non-OPEC countries “to continue high-level efforts (to create) a strategy for a recovery of oil prices.” Everyone knew Nicolás was…
On Tuesday January 6th, we had yet another case of “I can’t believe he tweeted that”. Here’s what happened… The news that McDonald’s might stop selling its famous fries in Venezuela has been circling around for a couple of days now. The company claims a labor dispute in West Coast ports is slowing down exports. McDonald’s Japan actually…
Caracas Chronicles 