why is water cheaper than diamond, asked a friend.here is my reply.

 

1)Economist- the price of a good is inversly proportional to the availability.

2) Marketer- diamond is an aspirational good whereas water is an utilitarian good. consumer's willingness to pay is always higher for an aspirational good.

3) Psychologist- Maslowe's heirarchy of needs has 5 levels. i put water at 1st level. Diamond may be at 4th and possibly at 5th for practioners of paranatural sciences.

5) Philisopher- the more rigor is put during the formation, the more precious something becomes.

6) Sensualist-because water doesnt have cleavage.

7) PoliticalSociologist- it is the usper ordinate goal of a welfare state to provide water to the public at affordable prices.

8) Futurist- its not long before the situation reverses. with global warming and depleting fresh water resources (the prophecy made by coleridge in 'water water everywhere, not a drop to drink') 4th world war,if we last tht long, will b over water.