It is not often that I write a blog post telling people to buy things but this is something definitely worth buying. A new book is coming out and is currently available for pre-order it is “The Invisible Hook” by Peter Leeson. I personally had Dr. Leeson for lecture and he did one whole day on the Economics of Pirates. What is important to note is the contribution to anarchy and the relation to our founding fathers. Pirates like us had a Constitution. They figured out a way to make the Captain powerful but not too powerful.
This has always been the question we have battled with as a nation. Something we will always battle as long as humans keep some sort of government. See Privateers and other state ran ships were abusive to their crewmen and treated them like slaves. In the world of Pirates, each man was his own agent. This man wanted to make as much money as he possibly could. He is going to contract himself out to those who only treat him well. He must put in clauses and limits to power because his alternative is a endless sea.
Obviously, I haven’t read Dr. Leeson’s book but I have been to his lectures and talked endlessly with him on various subjects. He is one of the major three economists that I have personally met that have influenced me the most. One day I hope to pass it on.
Here is the pre-order link. Do enjoy!