![]() The only thing that's happening is point 3: publishers trying to find a way to make artificial scarcity work, without a benefit of having a good discriminator (all bits are created equal) - hence DRM. Textbooks, or videogames, are products of utility, and don't have the aforementioned dynamics. Hence it's the mined ones that are used for jewelry. ![]() ![]() For instance, lab-made diamonds are very cheap and made to much higher quality than naturally-found ones, but "naturally found" is a perfect discriminator to force scarcity around. The scam is maintained by finding ways to create artificial scarcity. The scam was established by what's now over a century of ongoing marketing efforts to convince generations of people to consider diamonds as a symbol of love, thus to be priced per rules described above. This is because the act of figuratively setting your money on fire clearly signals that you're making a sacrifice (and the amount of money you thus burn also doubles as a proxy for your wealth). What is valuable as a symbol of love is something completely useless, but which requires you to burn excessive amounts of resources (money). ![]() What others said plus diamonds are only valuable because they're absurdly expensive. ![]()
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