The Invisible Hook by Adala Leeson
The Hidden Economics of Pirates
This work applies economic principles to the world of 18th-century piracy, showing how rational self-interest led crews to adopt constitutions, elect leaders, share plunder, and enforce checks and balances. It explains practices such as branding with the Jolly Roger, cultivating fearsome reputations, and paying injury compensation as profit-maximizing strategies that reduced conflict and transaction costs. The result is a counterintuitive portrait of order emerging among outlaws, with broader lessons about governance and institutions.
- Published
- 2009
- Nationality
- American
- Length
- Medium
- Pages
- 270-290
- Original Language
- English
- Avg User Rating
-
(4.0)
- Alternate Titles
- None
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