The commodification of fetishes: Telling the difference between natural and synthetic sapphires (original) (raw)
2010, American Ethnologist
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The value of many natural resources is not fixed; it depends on factors both intrinsic and external to the commodity; such is the case of precious stones. These commodities are termed “speculative commodities.” Here, I take the example of gemstones and conceptually trace and analyse the process of their commodification, with the help of Marxist theory and its various derivatives. The process of commodification and value addition that these resources go through are unique: partly, value is added and created through labour and their specialised artisanal crafts, but the major part of the profit is generated through discursive mechanisms of stories and narratives, the manipulation of supplies, and the manufacturing of demands through advertisements around each stone to make it valuable and pricey. The diamond and gemstone industry reaps extravagant profits from the otherwise useless pieces of stones – barring some industrial uses and the aesthetic value that they have. But their aesthetic dimension hides the greed, lust, violence, and aggression inherent in their commodification – many of these stones emerge from conflicts in the Global South – and that this source and history only add to their allure.
Diamonds, so the song goes, are a girl's best friend. According to various advertisement campaigns, diamonds are also a unique symbol of emotion because they are forever. It is certainly difficult to challenge these assertions as to the beauty of a diamond. However, these societal perceptions often overshadow the importance and history of other gemstones. The Bible refers several times to the value of rubies. Throughout history, gemstones of all varieties have captivated leaders and societies across the world, resulting in the creation of incredible works of art involving these stones and also in bloody fights to control them. Although a typical gemstone will not be as heavily faceted as a diamond, these facets have historically framed the laws, societal beliefs, and economic prowess of nations.And so it is perhaps not surprising that, when the world became concerned over sources of funding for the debilitating conflicts that have prominently engulfed several African states, it ...
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