Economy | RADIO 100.8 FM

The world-renowned De Beers Company is having an uphill battle in the world of diamond sales while the global economy looks less rosy.

With its seventh sales for the current year, it is already clear that the huge $1 billion drop in sales is indicative of a general slump in the diamond industry.

However, De Beers, who owns Anglo American, with 85% control, realized $ 280 million in sales for August, which is the seventh sales day of the year’s ten events.

De Beers is the world’s largest producer of uncut diamonds, but Russia is the largest, measured by carat production.

The economy is currently not favorable to the industry, as the drastic decline from last year’s $3.93 billion for the corresponding period of this year is only $2.91 billion.

The economy is a superb construct that helps us to serve each other –and because the situation we are in rests so heavily on paradigms, we can turn things around pretty quickly by shifting those paradigms. We have become a nation of takers. Without recognising this we will not be able to fully understand the true nature of our persistent unemployment crisis.

It is simple logic that when people by and large are taking more than they are contributing they create deficits and poverty. Conversely, when they contribute more than they are taking they create a surplus and prosperity. And prosperity in turn, according to long-standing research, is sustained by having an external focus and developing people.

These principles are not based on any ideological premise but on sound and well known practice and experience. At best, systems can encourage or discourage certain behaviours, but they are not the root cause of them. More importantly is that behaviour has
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