Would you pass this 2 point personal finance test?

Many South Africans are ignorant of the basics of personal finance, a trait that transcends income levels. Neil Roets, who heads Debt Rescue, a debt-counselling firm, says new clients are first asked for their household budget. Most do not have one.

The Economist: In South Africa, more people have loans than jobs

  1. Do you understand the basics of personal finance?
  2. Do you have a monthly household budget, and know when you’re over/under it, and why?

Ignorance of personal finance basics, and lack of a household budget – I’m sure a good proportion of people, across income levels, in India and the UK, would fail this test.

The mis-educated British, or why Boris Johnson has an audience

Many Britons have grown up believing their homeland saved and civilised the world, while atrocities, genocide and human rights abuses often go unmentioned. Successive governments have failed to narrow this knowledge gap, whether by setting up truth commissions, establishing a museum of colonialism or teaching schoolchildren about colonialism as part of the standard curriculum.

Why do archive files on Britain’s colonial past keep going missing? | Siobhan Fenton

Economic policies, like leaders – we get what we deserve

“We get the economic policies we deserve,” he writes. “And as long as a lack of economic understanding prevails among the general public, making good policy choices will take a lot of political courage.”

A Nobel winner explains why we get the bad economic policies we deserve

Reality of the Raj, and the recovery

… in the post-colonial period is that a democratic Indian government endeavored to invest more in the health and education of more citizens, however imperfectly this was implemented. The British, in contrast, supplied fewer public goods and too often the expenditures were directed toward defending British rule, extracting revenue or ensuring India as a captive market for British goods.

Legacy of British Rule Is Still Holding India Back, April 13, 2017 at 05:10 PM

Both of these are largely forgotten, if not deliberately erased.

Many Indians tend to blame post-colonial democratic governments for bringing India down.

Most British students are barely taught the reality of British colonial rule from perspective of the colonised.