Diamonds Are a Marriage Counselor’s Best Friend

Listen now:
(photo: Seth Lemmons)

(photo: Seth Lemmons)

Season 5, Episode 4

In part one (“Diamonds Are a Marriage Counselor’s Best Friend“), we meet a young Michigan couple who win a diamond at a charity event and then can’t decide what to do with it. Sell? Set it in a ring? Or stash it in the laundry room and just keep fighting about it?

We also hear from Edward Jay Epstein, who wrote a book about trying to resell a diamond, and we learn the strange, shady history of how diamonds have come to be as “valuable” as they are.

Then, in part two (“Why Marry, Part 2“), we learn why so many fewer people are getting married. The University of Michigan economist Justin Wolfers discusses his marriage research; we also learn, from Howard University psychologist Ivory Toldson, that eligible black men aren’t as scarce as we’ve been told. And Democratic pollster Celinda Lake talks about the politics of the changing marriage landscape.

You can subscribe to the Freakonomics Radio podcast at iTunes or elsewhere, or get the RSS feed.


Remi

I found the segment on the value of diamonds interesting because a couple years ago, a sibling sold an inherited 50-year-old Harry Winston diamond ring that cost about $2000 for around $60,000. I don't know if that was a good investment (our mother did not see it as an investment, of course) or not, but $60K is $60K.

temple

Remi, A Harry Winston ring, particularly a vintage Harry Winston ring, has value based in prestige and rarity that goes far beyond the value of the materials.