February 13, 2006

The Ultimate Field Guide to the U.S. Economy - great fun and facts about how we Enjoy. Coca-Cola. And top 10 reasons why diamonds are a girls best friend! All kinds of fun in the spirit of Freakonomics.
  • Problem is how do you blow a couple of months salary, to show the one you love that you'll love them forever? A big beautiful tattoo of a spiderweb on her face? That's going to leave a lot of change. Anyway, the fact that so many people have been put through hell in the process of getting this little lump of carbon, from a hole in the ground, polished and on on her lovely finger, is a testament to love even better than a fur coat.    "Hey baby I don't care how many animals/3rd world primitives had to die, you're worth it." God dam that shit is romantic.    "Pass the dried tiger penis I feel like f**king tonight."
  • I suppose you could skip the middleman and just buy her a slew of child laborers to create her own Kathy Lee empire on. At least then you wouldn't be losing any value in the purchase... until human rights kick in, anyway.
  • I'm confused how DeBeers can prop up prices by buying diamonds produced elsewhere. If there is such a huge supply (elsewhere), then other competitors would start up knowing they have a guaranteed buyer for their product, until DeBeers can no longer afford any more. Otherwise free-market conditions are doing exactly what they are supposed to, driving prices up in a monopoly on an item thats not particularly common. What the 10 points are really saying, is "DeBeers could make more diamonds, but they are greedy and won't" Tough. Go find your own diamond mine and you can undercut them.
  • As for coca-cola, they can charge whatever they think the market will bear. Its not a crime that coke might cost more on a hot day, its a crime that it costs more than gasoline when its sugar, water, cola-nut extract and caramel color.
  • Go find your own diamond mine and you can undercut them. heh ok
  • Right, thats what I mean. There is a shortage, they are scarce. Otherwise the DeBeers monopoly WOULD crumble. Theres a guy in Florida who is starting to manufacture diamonds. If all goes well, it won't be too long.
  • Here's to the general! Anyone with this kind of Pattonesque logic: ""I was in combat in Korea and 'Nam," he says after greeting me with a salute in the office lobby. "You better believe I can handle the diamond business." has my ok in felling the diamond trade. It would be nice to see diamonds reach the level of practicality rather than prestige, since they are pretty goddamn useful for so many things. Nice linkage, Mord.
  • Oh, speaking of abuse of third world labor: I saw an interesting thing in the paper about the thorns of European roses as well - who knew love was so jaded? Well, besides the lovers, anyway.
  • There is a shortage, they are scarce. Otherwise the DeBeers monopoly WOULD crumble. Not really. DeBeers cartel completely created an artifical market through advertising, and then created a diamond shortage to keep the market prices inflated. Nice trick.
  • As for Coke, yeah they can charge what they want. The executive officers don't work for the customer, their first duty is to the shareholders. However, upping the price on hot days could be very expensive in terms of goodwill. And for a brand based business like Coke goodwill is the real item they are trading on. So whilst it might be economically logical to vary price in relation to demand, it is arguably not in their interests to do so.
  • I think that Coke machine is a good idea, not so much for Coke but for us. I mean, if you're thirsty, Coke probably isn't the best thing to drink anyway. A disincentive to drink it might be a good thing.
  • Just in case you want something not caffienated, Coke's got you covered with Dasani.
  • dasani: not caffeinated, bromated tap water from sidcup