Are diamonds actually scarce?

Diamonds are not inherently scarce. Brad Barrett discusses how the perceived scarcity of diamonds is a result of manipulation by large corporations that control the supply. These corporations selectively release diamonds to maintain an artificial level of scarcity to drive up prices. This practice is similar to how other non-scarce items are marketed to create a false sense of rarity and value. Barrett emphasizes that diamonds are not more scarce than leaves, but are made to seem rare through market control 1.