When a tennis ball-sized diamond failed to fetch its US$92 million auction price, a respected financial publication implied it was because millennials were not buying the prized rocks. Apparently, diamonds are only a girl’s best friend if that girl is a privileged, heterosexual, cisgender woman who was born before the early 1980s.
The report in the Economist claimed that millennials are not spending money on the precious stones because the generation has a conscience. It alleged that the young adults who were the children raised by Barney the Dinosaur are worried about buying what are known as conflict or blood diamonds. The term refers to stones mined and produced in areas under the control of rebel forces that use the profits to fund terrorism and war. [Read more…]