Brazilian consumer behavior x roots

Just saw on TV a survey on consumer credit in Brazil:

– 60 million debtors;

– 43% don’t even know how much they owe;

– Over 50% of debtors who paid off their debts were back in debt within a year.

Without financial education it is hard for any nation to move forward in a more consistent way in my view.

Financial education means planning. It means understanding the concepts of opportunity cost and probability of success (why take on debt if I won’t be able to repay?)

I often think these things are cultural, learned from experiences of the past, passed onto generations.

So a few Qs:

Are the Germans “the Germans” because of what they went through in the 20s (roaring inflation) or due to suffering during WWII?
Are the world’s most developed nations more developed because the extreme weather during the winter requires them to learn some planning?
Are those who live near a sunny beach more laid back because if all goes wrong they can still dip in the ocean for a relaxing swim, for free?

Is it hardship that builds character? Is it hardship that makes people value what historically philosophers and the-so-called-wise really see as harbingers of satisfaction?

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