Rhodesian chrome embargo

Forty-year-old example of political externality. Rhodesian chrome ore is the world's best; embargo on it could be defeated by laundering through other countries, but quality was distinctive enough that buyers knew the source.

Go back forty years ago — Rhodesian chrome, in Africa. Chrome ore — Rhodesian chrome ore is the best in the world. We can get chromium from a lot of other sources, but none of it's as good and as economical as Rhodesian chrome. They were trying — same type of thing we're trying to do in the Ukraine right now — politically, get the former Soviets to do what they should be doing, in our opinion. They tried to have an embargo on Rhodesian chrome, except you could always tell it was very decent chrome. They'd launder it through some other country, but no one else had that kind of chrome ore, so they knew they were really selling Rhodesian chrome.