ajaz_eco_204_2012_2013_chapter_16_Market_Power

In this respect the diamond people have proved to be

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Unformatted text preview: n order to support the mystique. At the end of the day, this is no longer a matter of logic but of faith. Spending any length of time with De Beers managers can feel like a visit to a religious sect. Nobody questions their convictio n. Only true believers remain in the temple of the faithful. One former De Beers man recalls a video shown in the 1980s as part of his initiation into the firm; at the end, six words of baptism appeared on the screen: "Now you are one of us." The company’s executives exude a missionary zeal. They even speak inadvertently in evangelical terms. "We have the fervour of the converted," jokes Mr Oppenheimer. Bankrupt him all over again However ingenious the men from De Beers, their grand scheme would come to n othing were it not for the depths of human folly. Ruling the diamond empire requires not only control of the supply of diamonds to the market, but clever manipulation of desire too. In this respect, the diamond people have proved to be among the greatest s alesmen of the...
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This document was uploaded on 01/19/2014.

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