An-arrgh-chy: the law and economics of pirate organization
Leeson, P.T. (2007). An-arrgh-chy: the law and economics of pirate organization. Journal of Political Economy 115(6): 1049-1094
In: Journal of Political Economy. UNIV CHICAGO PRESS: Chicago. ISSN 0022-3808; e-ISSN 1537-534X, more
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| Abstract |
This article investigates the internal governance institutions of violent criminal enterprise by examining the law, economics, and organization of pirates. To effectively organize their banditry, pirates required mechanisms to prevent internal predation, minimize crew conflict, and maximize piratical profit. Pirates devised two institutions for this purpose. First, I analyze the system of piratical checks and balances crews used to constrain captain predation. Second, I examine how pirates used democratic constitutions to minimize conflict and create piratical law and order. Pirate governance created sufficient order and cooperation to make pirates one of the most sophisticated and successful criminal organizations in history. |
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