barriomulas.com - Culture Matters

The Economist recently published an article on Brazilian businessmen, noting that "Brazilian entrepreneurs seem to have a much lower appetite for risk... Perhaps this lack of staying power is because there are many more pleasant things to do in Brazil than work."

Though the article does cite bureaucratic red tape as one obstacle, such cultural traits must be taken into consideration before assuming that a single set of economic principals can be implemented throughout the globe with similar results.