De Beers

Monopolies of the Past and Present The United States has had its fair share of history with businesses that are considered to be anticompetitive. These types of businesses are known as monopolies and their common characteristic boils down to creating a lack of competition in a market. This lack of competition is known for stifling innovation and usually results in high prices of the product or service. In an attempt to foster competition in the United States economy, The Sherman Anti-Trust Act…

A Vacuum of Death Greg Campbell’s Blood Diamonds is a didactic narrative of the atrocities that have pursued throughout the Sierra Leone over the natural resource of diamonds. Campbell gives vivid detail into the realities behind the beauty of diamonds through the tales of smugglers, RUF victims, and his investigative research on this valued resource. This piece illuminates the key issues of exploitation and corruption that are carried out by smugglers and rebel fighters, and fueled by…

I. Diamonds are crystals made of a chemical called carbon. They are the hardest known natural material in the world, and one of the most valuable. In the Greek language, the word diamond means indestructible. It is possible to create diamonds with carbon and by applying extreme heat and pressure. Diamonds are measured in carats; one carat is two-hundred milligrams. Diamonds are better conductors then any other metal in the world, four times better than copper. Time, money, and extreme heat and…

Diamonds Are Forever. Or so the De Beers mining company would like to remind us. For a century, if you purchased a diamond, there was a 90% or higher chance that The De Beer mining company brought it to market—a true monopoly. The last three and a half decades have not been so kind to the firm, with market share crashing to a “mere” 35%. This company was founded by none other than Cecil Rhodes. Rhodes was archetypically imperialist. We are given a small glimpse of Mr. Rhodes’ brand of…

not an emerging issue. Starting back in 1867, when a large discovery of diamonds was found in the poverty stricken Cape Colony, De Beers claimed ownership of these mines and gained a monopoly. In order to drive the prices up and to make the gem more valuable, they withheld a majority of the supply. He created the illusion that diamonds were rare (Blood Diamonds). De Beers is the company…

Diamonds. These small and rare rocks have been considered prized possessions throughout the ages. Diamonds are as old as the earth itself, and ever since their discovery they have captivated humans. Diamonds have come to represent many things, but in this paper, I will focus on power. I will track a certain diamond through its’ dated 350-year period, and use it to understand the individuals who owned it and the power it gave them. The diamond I refer to is the hope diamond. The Hope diamond is…

There were several things threats that put DeBeer’s interests in jeopardy. The first one were unforeseen circumstances in the event of new diamond-producing competitors which affected DeBeers’ control of the industry. With the fall of the Soviet Union in 1991, Lev Leviev, a well-established diamond manufacturer in Israel, found his opportunity in Russia to partner with Alrosa in a joint venture. In 1996, a second blow to DeBeers’ position occurrered when Australia’s Argyle diamond mine ended…

In the case of Sierra Leone, the war was prolonged primarily by greed with regards to the diamond resource (mis)management. After a “golden era” of democracy and good governance in 1961 with Sir Milton Margai as first Prime Minister, the politics of mismanagement started in 1964 when his brother Albert took over power (Iro, 2009; Hirsch, 2001). He regarded the state as an instrument for personal power and this way of thinking prevailed in Sierra Leone, dominating the mind-set of the political…

In Matthew O’Brien’s report, “The Strange Economics of Engagement Rings”, he tightly focuses on the topic of engagement rings. He informs the reader about the original purpose of engagement rings, along with the purpose of them now. He shows the reader information about the significance of engagement rings by including a graph of diamond imports by year in 1930 through 1963. In the graph there is a gradual increase in diamonds around 1935 to 1944, then there is a large increase in the imports of…

Nothing's worse that accidentally breaking your precious gold necklace or bracelet. Unfortunately, this frequently happens to many people simply because the gold is so delicate and precious. Pulling or yanking too hard on it in a rushed attempt to remove it, getting it snagged on something or accidentally snapping it while trying to untangle it can easily break the chain. Jewelry repair service is expensive and can sometimes cost as much as the gold necklace or bracelet did itself. So most times…