The Global Diamond Industry: Economics and Development Volume II

Few commodities connect global trade, industrial development, and social history as visibly as diamonds 💎. In this second volume of The Global Diamond Industry: Economics and Development, editors Roman Grynberg and Letsema Mbayi bring together nine focused studies that examine how the diamond trade has shaped communities, markets, and policy—especially in Africa. The collection moves beyond simple narratives of mining and luxury to address the economic structures, regulatory efforts, and local development questions that continue to define the industry.

Inside Volume II: Two Complementary Perspectives

The first part of the volume traces the long history of diamond processing and the social networks that have driven the trade. Karin Hofmeester follows the shifting geography of cutting and polishing from India to Europe and back. Barak D. Richman explains how community institutions gave Jewish diamond merchants in New York a durable economic advantage, while Sebastian Henn examines the Palanpuris as transnational entrepreneurs who connect global pipelines and production patterns.

Diamonds and Development: From Conflict to Certification

The second half turns to development and governance. J. Andrew Grant reflects on the Kimberley Process after its first decade, and Nicky Oppenheimer discusses the relationship between diamonds, development, and democracy. Samuel J. Spiegel examines contested certification in Zimbabwe’s Marange fields, while Thomas W. Overton and James E. Shingley provide a history of diamond treatments.

Botswana’s Diamond Economy in Focus

The volume gives notable attention to Botswana, a country where diamonds are central to national development. Letsema Mbayi analyzes the evolution of diamond-processing capabilities in Botswana’s cutting and polishing industry. Roman Grynberg, Margaret Sengwaketse, and Masedi Motswapong then assess the potential impact of synthetic gem-quality diamonds on the Botswana economy.

Why This Collection Matters for Researchers and Practitioners

This is not a glamorous survey of the jewellery trade. It is a serious academic collection that combines economic analysis, policy history, and detailed case studies. Readers in development economics, international trade, resource governance, and African studies will find nuanced arguments and evidence. The authors come from institutions and organisations with direct engagement in diamond policy, lending the chapters both scholarly rigour and practical relevance.