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I’m pretty sure diamonds are expensive due to artificial scarcity introduced by debeers holding on to huge quantities. No need for some fancy ideas there, they

I’m pretty sure diamonds are expensive due to artificial scarcity introduced by debeers holding on to huge quantities. No need for some fancy ideas there, they should really rename that paradox to some material that wasn’t market manipulated so heavily.

amasad 8y ago
There's a curious anti-intellectual trend in HN where people think they can explain things simply without "fancy ideas". Scarcity on it's own doesn't explain it. Your grandma's locket is scarce (only 1) yet no one will pay anything for it.