20 July 2006

Diamonds are a Nuisance

I don't buy into the diamond cartel. Maybe I should have never enrolled in that one International Business class in college where we studied the diamond market. That may have saved me and she a lot of heartache.

If it's a rare stone, then why are so many of them available? Diamonds are not rare. The released supply of diamonds is controlled primarily by one large company : monopoly. The supply/demand equation does not apply to diamonds.

A diamond is forever, but it's one of the worst investments a person can make. Is that how to begin a lifelong relationship? On a bad investment? Forever?

Giving a diamond to your bride is a little like a reverse dowry, isn't it? It's one of those social conventions that would be difficult to explain to a visitor from a foreign planet.

I don't agree with each of these ten items, but I do agree with several. I'm always skeptical of lists that number ten items, partly because the authors are forced to include some bogus items to reach that magical "10", and partly because of the guilt-by-association with David Letterman's Top 10 Lists.


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