This article examines the troubled history and impact of diamonds in global markets, highlighting economic and social issues.
Diamonds are among the most celebrated luxury commodities in global markets, symbolizing love, status, success, and permanence. Yet behind this glamorous façade lies a deeply troubled commodity whose value is historically and contemporarily entangled with colonial violence, cultural oppression, ecological destruction, and moral controversy. This article reframes diamonds not as enduring marketplace icons but as commodities that consistently generate, manage, and redistribute trouble. From the colonial afterlives of iconic stones and the normalization of debt-driven romantic consumption to the exclusion of lab-grown alternatives and the limits of conflict and sustainability certifications, the industry repeatedly co-opts critique while preserving an extractive and fundamentally unsustainable market system. By foregrounding diamonds as a paradigmatic troubled commodity, this article contributes to a growing interest in how markets perpetuate or fail to resolve economic, social, and cultural troubles.
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Dion et al. (2026) studied this question.
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