A micro economic analysis of the diamond industry in the United States.
Written in 2009; 2,041 words; 14 sources; APA; $ 64.95
Paper Summary:
The paper refers to a well-known advertisement from the diamond industry which emphasizes that diamonds are forever, but the marketing may be superfluous because the demand for diamonds in the United States remains strong today. The paper notes that many observers, though, suggest that the diamond industry in the United States is being manipulated by international terrorist organizations to fund their operations at home and abroad. Others suggest that the market is being unfairly controlled by the major players in the diamond industry to keep supplies low to maintain current pricing levels. The paper provides the background and an overview of the global diamond industry, followed by some salient facts concerning this industry. The paper discusses the most and least dominant firms (in terms of size, investments and income) in the diamond industry which is followed by an analysis of how major players in the industry collude to keep diamond supplies on the world market low and prices high. A summary of the research and important findings are presented in the conclusion.
Outline:
Review and Discussion
Background and Overview
Facts about the International Diamond Industry
Most and Least Dominant Firms in the Diamond Industry
Conclusion
From the Paper:
" The Central Selling Organization (CSO) buys the rough from mines owned or controlled by De Beers, from cartel members, and also from independent producers. As a result, much of world production flows through the CSO to be sorted, valued, and ultimately resold" . By sharp contrast, perhaps the least dominant firm in the diamond industry, especially in the United States, is the Crater of Diamonds State Park located in near Murfreesboro, Arkansas, the only diamond mine in the country that allows the public, for a modest price, to dig for and keep the diamonds they find. Other firms in the United States involved in the diamond industry include the New York Diamond Dealers Club, which is a 2000-member private organization for site holders, manufacturers, wholesalers, and brokers".
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