Cardiff Garcia

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The global market for diamond jewelry is worth $80 billion a year. Money is flooding into this industry, but why when demand for diamonds isn't as lustrous as it once was? Cardiff Garcia and Sally Herships have more from the Planet Money podcast The Indicator.

One of our listeners wrote in to ask why Americans are addicted to tipping and just can't seem to quit. This is a subject near and dear to our hearts: doesn't it seem like we're tipping everywhere these days? It's a also a great behavioral economics question. Tipping is one of those conventions that defies both common sense (why do we tip for some services and not others?) - and the rules of economics (why do most people prefer restaurants that don't include fixed service charges in their prices?).

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