The Diamond Invention by Edward Jay Epstein is a compelling exposé that delves into the intricate world of the diamond industry. Published in 1982, this investigative work uncovers how De Beers Consolidated Mines, Ltd. orchestrated a global monopoly, transforming diamonds from mere carbon crystals into coveted symbols of love and status.
Epstein reveals the mechanisms behind this transformation, detailing how De Beers controlled both the supply and demand of diamonds. Through strategic advertising campaigns, such as the iconic "A diamond is forever," and by regulating the distribution of diamonds to maintain scarcity, the company created an illusion of rarity and enduring value. This manipulation ensured that diamonds became an indispensable part of societal rituals, particularly in engagements and marriages.The book also explores the establishment of a vast network involving stockpiles of uncut diamonds, financial reserves, and covert operations across major cities like London, Antwerp, and Johannesburg. These efforts were aimed at sustaining the diamond's allure and preventing resale, thereby maintaining high prices and the perception of diamonds as eternal treasures.
Epstein's work is not just a historical account but a critical analysis of how marketing and monopolistic practices can shape consumer behavior and societal norms. For readers interested in economics, marketing, or the sociology of consumption, The Diamond Invention offers an eye-opening perspective on the power of corporate influence.
📚 Important Note on Book Condition:
This is a pre-owned/used book. While all pages are intact and perfectly readable, the book may show signs of wear such as:
1) Minor creases or bends, 2) Slight yellowing of pages, 3) Faint markings or name written inside
We ensure good, readable condition for every book we sell.
If you're looking for new or pristine condition, please check our listings marked as "New."
