Wednesday 22 February 2006
Marcus: 1982 article on De Beers' great diamond scam - diamonds originally not being all that special a gemstone until they orchestrated one of the most successful cartels ever. (via)
Marcus:
"To achieve this goal, De Beers had to control demand as well as supply. Both women and men had to be made to perceive diamonds not as marketable precious stones but as an inseparable part of courtship and married life. To stabilize the market, De Beers had to endow these stones with a sentiment that would inhibit the public from ever reselling them."
