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Ah. A lot of economists have argued that the "value" of something is based on the labor cost of production. So given that viewpoint, mined diamonds would be wo
by alfiedotwtf 6y ago
Ah.
A lot of economists have argued that the "value" of something is based on the labor cost of production. So given that viewpoint, mined diamonds would be worth more than lab ones, even if they were identical in every way (yes, I also think this is silly, but that's what the market's indicating even today).
- Nursie 6y agoI'm pretty sure that doesn't really apply in such a massively manipulated market! (And yes, those economists would tend to get laughed out of the room these days)