The Rise And Fall Of Diamonds

First, there was a problem of what economists call «opportunity costs.» Manufacturing gem diamonds required tying up the press for nearly a week. In that same period, the presses could produce batches of powdered diamonds for industrial purposes every three minutes. Even though diamond powder could be sold for roughly only one percent what gem diamonds could be sold for, it would still be far more profitable to use the press for powder rather than gems.
To

vention.
By 1970, more than half the diamonds produced in the world were man-made. Unlike prices for gem diamonds, which rose steadily during the postwar period, the

After examining this second batch of diamonds with their loupes, Sir Julius conferred with Oats in private. Oats suspected that the whole experiment was nothing more than a hoax. Sir Julius understood Oats’ doubts, but believed that there was still some chance that this French inventor had stumbled on the secret formula for diamonds.