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The Diamond Industry

Diamonds are now a $60 billion industry.

It’s hard to think of a more concentrated form of wealth than a diamond. But where and how does a diamond get its value and what exactly keeps that value so high? "CBS This Morning" asked the experts.

The consumer appetite for diamonds can seem insatiable. But how did a rock with no intrinsic value become the ultimate symbol of luxury?

India is the origin of the diamond fixation, according to George E. Harlow, curator of the American Museum of Natural History. He explained, "(Diamonds) were considered to be a powerful talisman of protection and power."

CBS

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