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This part of the diary was totally anecdotal. I can't account for it.

Unfortunately, I can't be convinced it didn't happen. I was shelling out money out of my own pocket and just shaking my head in amazement.

by Upstate NY on Fri Feb 12th, 2010 at 12:06:09 PM EST
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Unfortunately, I can't be convinced it didn't happen. I was shelling out money out of my own pocket and just shaking my head in amazement.

This is anecdotal, yes, but a highly significant sort of data. We are all FORTUNATE that you can't be convinced, because it is exactly this sort of anomaly that points toward real insights---sometimes.

Perhaps because my point of view tends to see a strong social component in most of my useful insights (if any) I smell--a strong social component here.
The oft-repeated euroskeptic fear that the adoption of the euro could create massive conversion costs---created massive conversion costs. Partly, larger businesses- hotel chains, etc. seized on the perceived opportunity to raise prices, knowing that they had a convenient scapegoat, and smaller businesses did the same, or felt obligated to raise prices to cover their own added costs. Or both.
Sometimes the most powerful economic forces stem from a social perception- a story, true or false, internalized on a micro level.
Then we get lost in looking for some macro force at work--

Capitalism searches out the darkest corners of human potential, and mainlines them.

by geezer in Paris (risico at wanadoo(flypoop)fr) on Sat Feb 13th, 2010 at 03:31:23 AM EST
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I totally buy into what you're saying and it seems the most logical explanation. I sort of accounted for it in one of my posts as "greedy Greeks."
by Upstate NY on Sat Feb 13th, 2010 at 10:38:56 AM EST
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Just as Blue Cross and Blue Shield of California have just announced 30%+ increased in rates for medical insurance for 2010. Everyone said Health Care Reform would drive up prices.  See!

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Feb 13th, 2010 at 09:30:35 PM EST
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