Tuesday, June 17, 2008

Better Fake Diamonds

I read an article several years ago in Wired about the advent of artificial diamonds and the possibilities of their use. It's exciting to see that this avenue of research hasn't been crushed. The Smithsonian.com has posted an article about the new strides in this process. But, even more important (in my view) is the take on the real diamond industry and the true scarcity and trumped up value of diamonds that should really give you pause about selling those futures on tulips. I like this quote from the article:

Natural diamonds aren't particularly rare. In 2006, more than 75,000 pounds were produced worldwide. A diamond is a precious commodity because everyone thinks it's a precious commodity, the geological equivalent of a bouquet of red roses, elegant and alluring, a symbol of romance, but ultimately pretty ordinary.

I find it ridiculous the amount of money and energy spent on this rock as decoration when it is plentiful and can be used for so much more. 

The Rational Moderate

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