I live in Argentina. We have 40% annual inflation and the vast majority of the upper and middle class buys US dollars in the black market and holds them under the mattress.
Also, there are two ways to study human behavior: one is through science and experimentation. The other is through the opinion of philosophers, magicians, prophets and alchemists. This second approach was used by almost all economists, even those against the State like the Austrian School. Actual scientific experimentation is a very new innovation in Economics and it's still developing a theory. (Search: "behavioral economics")