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I dont disagree with any of these points but I am curious. Would DeBeers monopoly on diamonds count as not backed by a state? Reading their history, it seems
by sharkmerry 8y ago
I dont disagree with any of these points but I am curious.
Would DeBeers monopoly on diamonds count as not backed by a
state? Reading their history, it seems like rhodes got lucky and reinvested.
- pitaj 8y agoI'd count DeBeers as statist in origin, even though they aren't really a monopoly IMO. The fact is that diamond supply has been under the control of warlords and other statist factions for a long time. I'd say that counts.
- repsilat 8y ago> they aren't really a monopoly Yeah, this is more an example of monopolies naturally eroding. DeBeers held prices above equilibrium, and other players entered the market and now they don't have a stranglehold on it. (The extent of their hold on it was played up by journalists anyway...)
- deleted 8y ago[deleted]