The only reason diamonds are expensive is due to a monopoly by one company artificially inflating prices. It's literally criminal in the US for them to run their company in this manner.
The price structure of diamonds would still be the same even if DeBeers wasn't restricting the supply. Prices would be lower overall, but the fact that one diamond of size 2 would be more valuable than 2 diamonds of size 1 would not be changed.
And are you suggesting that because people can produce something, suddenly it has no value?
10-16-2013, 10:34 AM
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