Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
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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