Tag: diamond monopoly

The Diamond Empire: DeBeers & Oppenheimer Family’s Cartel – Artificial Scarcity

Well what I learned was that the diamond business wasn’t a business of extracting, as I originally expected – something of enormous value, and them simply seeing how much of this object you could get out of the ground, and selling it. That was what the business appeared to be when I started my venture. But their real business was restricting what came out of the ground, restricting what was discovered, restricting what got cut, restricting what actually found its way into the retail market. And at the same time, through movies, through advertising, through Hollywood, through the manipulation of perceptions – creating the idea that there was this enormous demand for these shiny little objects…

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