In the case of conflict diamonds, the strict enforcement of property rights has led to too fast of a rate of extraction.

Conflict Diamonds

Diamonds that are mined and sold by combatants in war zones in Africa as a way to provide the currency needed to finance their military activities.

Property Rights

Property rights are legal rights to use, control, and benefit from a particular property or resource, which can include both tangible and intangible assets.

Extraction Rate

pertains to the speed or efficiency with which a resource (like oil or minerals) is removed from its natural setting or source.