Blingfest

The trouble with engagement rings

Excerpt:

.... the "tradition" of the diamond engagement ring is newer than you might think. ... But it wasn't until the late 19th century, after the discovery of mines in South Africa drove the price of diamonds down, that Americans regularly began to give (or receive) diamond engagement rings. (Before that, some betrothed women got thimbles instead of rings.)
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By 1965, 80 percent of American women had diamond engagement rings. The ring had become a requisite element of betrothal—as well as a very visible demonstration of status. Along the way, the diamond industry's guidelines for the "customary" cost of a ring doubled from one month's salary to two months' salary.
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It may seem curious that feminism has made inroads on many retrograde customs—name-changing, for example—but not on the practice of giving engagement rings. Part of the reason the ring has persisted and thrived is clearly its role in what Thorstein Veblen called the economy of "conspicuous consumption." Part of the reason could be that many young women, raised in a realm of relative equality, never think rigorously about the traditions handed down to them.

Comment: I think it is a good tradition, but the so-called industry guideline of 2 months's salary is ridiculous! Consider earlier post: Diamond Hype