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information and Phase Transitions in Socio-Economic Systems
Terry Bossomaier, Dan Mackinlay, Lionel Barnett...
\section{Introduction}
\label{sec:intro}
Diamonds are not a good very long term investment! They are steadily turning into graphite. It will take millions of years, but the most stable form of carbon at room temperature and pressure is graphite. Thus diamonds will undergo a phase transition to graphite, albeit over a very long timescale.
When we normally think of phase transitions we think of the states of matter, ice melting to water or water turning to steam. They are order/disorder transitions. In graphite the carbon atoms are linked together in layers. The layers can slide over one another giving graphite its excellent lubricant properties. In diamond the carbon atoms are linked together in a three dimensional structure with each carbon at the centre of a tetrahedron linked to carbons at all four corners. Thus carbon has to go through a major structural reorganization to change from diamond t