The Diamond Trade – Rough Cuts

Good one

Myth of the 20th Century

‘Diamonds are Forever’, as the saying goes, imparts a sense of strength, legacy, and significance. From a geological point of view, diamonds, formed over millions of years, are indeed ancient and enduring. From a cultural standpoint, however, the concept of a mass market for diamonds in the form of wedding rings and like is a relatively new concept. Tonight we explore how this phenomenon came to be, the mining and distribution of diamonds, and the major players behind this multi-billion dollar a year industry.


Myth of the 20th Century – Episode 164 – The Diamond Trade – Rough Cuts

— References —

– The Market for Lemons: Quality Uncertainty and the Market Mechanism, Akerlof (1970)
– Diamonds are Forever, Hamilton (1971)
– Freakonomics, Levitt (2005)
– Blood Diamond, Zwick (2006)
– Rhodesia – Last Days of Empire, Myth of the 20th Century (2017) –

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