How many would consider getting down on one knee with a diamond ring that was actually made in a lab? Well, as reported in the Washington Post on February 13th, Yarden Tsach is actually growing real diamonds in a nearby Washington suburb. He does this by replicating the geological carbon process inside a gas-filled chamber that can produce a flawless diamond in only eight weeks. The $81.4 billion diamond industry is threatened by this because this would make diamonds more affordable and less precious since they will no longer be a rarity. This relates back to two topics that we have covered in class: doing business in a global world and ethics. The diamond industry employs 10 million people worldwide, with 65% of the world’s diamonds residing in Africa. As we have read for our case study today, there is an ethics issue when it comes to blood diamonds funding African civil wars. Even after the Kimberly Process was established 10 years ago, there is no guarantee that there isn’t conflict tied with the diamond due to loopholes in the legislation. Synthetic diamonds as mentioned in the article would disrupt this huge industry. I have yet to draw an opinion on which type of diamond I would want to prevail. If the synthetic diamond business prevailed, 10 million people would be without their only form of income, and if the current diamond industry prevailed, horrible conditions, child labor, and conflict diamonds would perpetuate further. My question to you then is, which do you think is the lesser of the evils?
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