What role does corruption play in the diamond industry?
In places such as Sierra Leone, thousands of people sift through vast expanses of terrain collecting diamonds. These diamonds pass through many hands between the artisanal miner who finds the rough stone and the consumer who buys the cut-and-polished pendant or ring. Several points in this chain remain vulnerable to exploitation. The opportunities for corruption are amplified by the global financial crisis, the discovery of large diamond deposits in Northern Canada, and the sheer number of diamonds already owned by consumers, which reduces demand and prices. Under stressful conditions, people who work on their own and whose livelihoods depend on finding a couple of diamonds a year can more easily be lured or coerced into the unregulated side of the industry. If supply remains high and prices do not recover, we may see the industry change in significant ways as labor needs dwindle and small operations become less viable. This will be a blow to diamond-based economies. Unfortunately, eco
