I have recently started discussing the issue of conflict diamonds in my economics class to analyze the effects of scarcity and other things. What I uncovered about the diamond industry has truly opened my eyes to the horrors of buying a stupid shiny rock. If you do not know about conflict diamonds allow me to enlighten you here. If you know what they are and who is getting them into diamond stores skip right to the discussion question at the bottom.
---> The main country that exports a lot of diamonds is Sierra Leone. Diamonds are obtained when militant groups force civilians to work in a river bed filtering out rough diamonds. The militant groups can be extremely cruel to the general populous. The company that buys most of these rough diamonds is De Beers. This company buys the rough diamonds and then sends them off to be cut and polished for diamond stores. They do this because if they control a large amount of diamonds then they can keep them and release them slowly to maintain the illusion that a diamond is extremely rare. This scarcity causes the high price of diamonds. The money that the militant groups receive from De Beers is used to fund their war. De Beers was the company that launched a massive ad campaign whose objectives were as followed.
+Get people to think diamonds are rare and special
+Get women to think that a man must present her with a diamond ring when proposing.
+Get women to think that if a man gives her a diamond whatever, he thinks that she is special.
+Change the courtship process to include diamonds.
The slogan for this campaign was "A Diamond is Forever".
It is almost impossible to tell if a diamond is obtained without conflict because of how hard it is to trace diamonds due to smuggling. The US buys 60% of the worlds diamonds.
--> My question to you is, who is responsible for stopping the trading of conflict diamonds and would you be willing to stop buying diamonds all together?
---> The main country that exports a lot of diamonds is Sierra Leone. Diamonds are obtained when militant groups force civilians to work in a river bed filtering out rough diamonds. The militant groups can be extremely cruel to the general populous. The company that buys most of these rough diamonds is De Beers. This company buys the rough diamonds and then sends them off to be cut and polished for diamond stores. They do this because if they control a large amount of diamonds then they can keep them and release them slowly to maintain the illusion that a diamond is extremely rare. This scarcity causes the high price of diamonds. The money that the militant groups receive from De Beers is used to fund their war. De Beers was the company that launched a massive ad campaign whose objectives were as followed.
+Get people to think diamonds are rare and special
+Get women to think that a man must present her with a diamond ring when proposing.
+Get women to think that if a man gives her a diamond whatever, he thinks that she is special.
+Change the courtship process to include diamonds.
The slogan for this campaign was "A Diamond is Forever".
It is almost impossible to tell if a diamond is obtained without conflict because of how hard it is to trace diamonds due to smuggling. The US buys 60% of the worlds diamonds.
--> My question to you is, who is responsible for stopping the trading of conflict diamonds and would you be willing to stop buying diamonds all together?