The Market for "Rough Diamonds": Information, Finance and Wage Inequality

During the past four decades both between and within group wage inequality increased significantly in the US. I provide a microfounded justification for this pattern, by introducing private employer learning in a model of signaling with credit constraints. In particular, I show that when financial constraints relax, talented individuals can acquire education and leave the uneducated pool, this decreases unskilled inexperienced wages and boosts wage inequality. This explanation is consistent with US data from 1970 to 1997, indicating that the rise of the skill and the experience premium coincides with a fall in unskilled-inexperienced wages, while at the same time skilled or experienced wages do not change much. The model accounts for: (i) the increase in the skill premium despite the growing supply of skills; (ii) the understudied aspect of rising inequality related to the increase in the experience premium; (iii) the sharp growth of the skill premium for inexperienced workers and its moderate expansion for the experienced ones; (iv) the puzzling coexistence of increasing experience premium within the group of unskilled workers and its stable pattern among the skilled ones. The results hold under various robustness checks and provide some interesting policy implications about the potential conflict between inequality of opportunity and substantial economic inequality, as well as the role of minimum wage policy in determining the equilibrium wage inequality.

Receipt from J.B. Fowler, Diamonds, Watches and Jewelry of St. Catharines

Receipt from J.B. Fowler, Diamonds, Watches and Jewelry of St. Catharines for balance paid, n.d.

Eclogitic diamonds from variable crustal protoliths in the northeastern Siberian craton: trace elements and coupled δ13C – δ18O signatures in diamonds and garnet inclusions

Diamonds of eclogitic assemblages are dominant in the placer diamond deposits of the northeastern Siberian platform. In this study we present new trace elements and stable isotopes (δ13C and δ18O) data for alluvial diamonds and their garnet inclusions from this locality. Cr-rich garnets of peridotitic affinity in the studied diamonds have a narrow range of δ18O values from 5.7‰ to 6.2‰, which is largely overlapping with the accepted mantle range. This narrow range suggests that the garnet inclusions showing different REE patterns and little variations in oxygen isotopes may have formed by different processes involving fluid/melts that, however, were in oxygen isotopic equilibrium with the mantle. The trace element composition of the eclogitic garnet inclusions supports a crustal origin for at least the high-Ca garnets, which show flat HREE patterns and in some cases a positive Eu-anomaly. High-Ca eclogitic garnets generally show heavier oxygen isotope compositions (δ18O 6.5–9.6‰) than what is observed in low-Ca garnets (δ18O 5.7–7.4‰). The variability in oxygen isotopes and trace elements is suggested to be inherited from contrasting crustal protoliths. The relationship between the high δ18O values of inclusions and the low δ13C values of the host diamonds implies that the high-Ca garnet inclusions were derived from intensely hydrated (e.g., δ18O > 7‰) and typically oxidised basaltic rock close to the seawater interface, and that the carbon for diamonds was closely associated with this protolith.

Famous diamonds/ by Oliver C. Farrington, Curator of Geology.

no.10(1929)

Point lace and diamonds /

Mode of access: Internet.

The mineral industry of the British Empire and foreign countries. Statistics, 1919-1921. Diamonds.

At head of title: Imperial Mineral Resources Bureau.

The mineral industry of the British Empire and foreign countries. Statistics, 1920-1922. Diamonds.

At head of title: Imperial Mineral Resources Bureau.

The Hoggarty diamonds, etc. /

Originally published under title: The history of Samuel Titmarsh and the great Hoggarty diamond.

The king of diamonds; a tale of mystery and adventure,

Mode of access: Internet.

The Eustace diamonds.

Limited edition of 1250 copies. This is no. 176.

Black-belt diamonds : gems from the speeches, addresses, and talks to students of Booker T. Washington, principal of Tuskegee Institute, Tuskegee, Ala. /

Mode of access: Internet.

The great diamonds of the world.

Mode of access: Internet.

Diamonds cut paste,

Mode of access: Internet.