Why Engagement Rings Are a Scam

College Humor (admittedly an unusual source to find something so profoundly educational) explains why the diamond and engagement ring business is a complete scam. Prior to the 1930’s, exchanging a super-expensive crystallized carbon rock (with absolutely no intrinsic value whatsoever), had little to do with formalizing a commitment to marriage.

In 1938, the De Beers Diamond company launched a massive ad campaign, which began to brainwash the general public into thinking that an engagement ring was becoming a necessary component of American marriages, and the “two months salary” rule was just an arbitrary number conjured up by the same company.