"The diamond invention -- the creation of the idea that diamonds are rare and valuable, and are essential signs of esteem -- is a relatively recent development in the history of the diamond trade..."

There is a member of my circle of friends who is seriously obsessed with the idea of getting a diamond engagement ring from her boyfriend, which has lead to some discussion about what diamonds are worth and where they come from. Of course, the meaning is in the eye of the beholder, but we're a bunch of snobby intellectuals so articles like this tend to get forwarded around anyway.

This is a fascinating discussion of the relatively recent invention of the "tradition" of giving diamond engagement rings and the economic and marketing machines operating in the background. Of course, this article was published in 1982, so obviously we know that any threats to the De Beers empire in the early eighties were handled, and while our generation is very marketing savvy, the girls still want those rings. Most of them anyway...

How many other cultural traditions that you and I grew up with are simply products of Madison Ave?