diamonds are forever..
March 27, 2006 8:47 PM
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Are there any other companies that have fooled as many people as De Beers?
I was fascinated with
this article talking about the repulsive history of De Beers and how they have used incredibly clever mass psychology methods, like advertising, to invent the illusion of the scarcity and value of diamonds as well as create the assumption that every woman must have one. My question is what are some other examples of pyschological mass manipulation by industry that have worked this well? Are there other companies that have fooled as many people? Im also curious.. the article hints that De Beer's control over the market may be in danger due to newly discovered mines in Australia and other parts of the world, however the article is from 1982. I'm wondering how that battle played out. Are they still in control of all the mines? And how come the inevitable 'diamond crash' spelled out in the article never happened? Is it simply because most people still dont realize that the resale value of diamonds is a myth?
posted by petsounds to society & culture (59 comments total)
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posted by rollbiz at 8:55 PM on March 27, 2006