11. The Invisible Hook: The Hidden Economics of Pirates
- Author:
- Michael Williams
- Publication Date:
- 07-2011
- Content Type:
- Journal Article
- Journal:
- The Rest: Journal of Politics and Development
- Institution:
- Centre for Strategic Research and Analysis (CESRAN)
- Abstract:
- In his book The Invisible Hook: The Hidden Economics of Pirates, Peter T. Leeson uses economics to describe the seemingly bizarre and contradictory behaviour of 17th and 18th century pirates. In the epilogue, Leeson describes pirates as sadistic pacifists, womanizing homosexuals, treasure-lusting socialists and madmen who outwitted the authorities (though apparently not in the end…). The task of making all of those behaviours appear rational seems daunting, but through the skilful implementation of economic reasoning, Leeson does exactly that.
- Topic:
- Economics