Pirate Organization: Yesterday and Today

Paul Hallwood and Thomas J. Miceli
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Thomas J. Miceli: University of Connecticut

Chapter 2 in Maritime Piracy and Its Control: An Economic Analysis, 2015, pp 10-19 from Palgrave Macmillan

Abstract: Abstract Chapter 2 discusses the organization of piracy in both its historical and modern-day versions based on the idea that the more efficient a pirate organization is, the more effectively it will carry out its objectives. Leeson (2007a) argues that pirates during the Golden Age (ca. 1690–1730) developed sophisticated mechanisms aimed at achieving their goal of maximizing the value of their plunder. These mechanisms included democratically elected captains, who therefore were answerable to the crew, and pirate constitutions that explicitly specified the duties and obligations of crew members. In contrast to their earlier brethren, modern-day pirates rely more on landward bases, from which they launch their attacks and to which they return for protection from local clans. Empirical evidence supports the hypothesis that those ports along the Somali coast that harbor pirates tend to be ones that are less successful in fostering legitimate trade.

Keywords: Crew Member; Merchant Ship; Somali Coast; Maritime Piracy; Absentee Owner (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46150-6_2

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DOI: 10.1057/9781137461506_2

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