The Myth of Ethical Diamonds Faces Yet Another Test

Diamonds aren’t scarce. That’s the first myth about diamonds that you often hear. The truth is, the supply and release is tightly managed by the De Beers diamond cartel which controls an estimated 80% or more of the entire market. Despite the widespread public awareness of so-called “blood diamonds” and efforts by some in the industry to promote more ethically sourced diamonds, even today an estimated 20% of people who work in diamond mines in some countries are children.

Though artificially produced diamonds are increasingly being adopted by industry for things like drill bits and computer chips, the vast majority of jewelry consumers still ask for natural diamonds. Unlike the demand for many other toxic materials, the desire for diamonds is rarely a life or death consumer need. Here’s one solution to make the world better. Stop buying natural diamonds for jewelry. That’s an environmentally and humanity friendly movement worth starting.