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Fighting Maritime Piracy: Three Lessons from Pompeius Magnus

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  • Christian Schubert

    () (Max Planck Institute of Economics, Jena)

  • Leonhard K. Lades

    (Max Planck Institute of Economics, Jena)

Abstract

Piracy in international waters is on the rise again, in particular off the coast of Somalia. While the dynamic game between pirates, ship-owners, insurance firms and the military seems to have reached some kind of equilibrium, piracy risks generating significant negative externalities to third parties (e.g. in terms of environmental hazards and terrorism), justifying attempts to contain it. We argue that these attempts may benefit from a look back - through the analytical lens of public choice theory - to the most successful counter-piracy campaign ever undertaken, namely, the one led by the Roman general Gnaeus Pompeius Magnus (Pompey the Great) in 67 BC.

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Bibliographic Info

Paper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2012-017.

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Date of creation: 03 May 2012
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Handle: RePEc:jrp:jrpwrp:2012-017

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Keywords: Piracy; Somalia; Public Choice Theory;

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  1. Anja Shortland & Marc Vothknecht, 2011. "Combating “Maritime Terrorism” off the Coast of Somalia," Economics of Security Working Paper Series 47, DIW Berlin, German Institute for Economic Research.
  2. redakce, 2012. "n/a," Ekonomika a Management, University of Economics, Prague, vol. 2012(1), pages 72-73.
  3. Anja Shortland & Sarah Percy, 2011. "The Business of Piracy in Somalia," CEDI Discussion Paper Series 11-08, Centre for Economic Development and Institutions(CEDI), Brunel University.
  4. Leeson, Peter T., 2007. "Better off stateless: Somalia before and after government collapse," Journal of Comparative Economics, Elsevier, vol. 35(4), pages 689-710, December.
  5. Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August.
  6. Powell, Benjamin & Ford, Ryan & Nowrasteh, Alex, 2008. "Somalia after state collapse: Chaos or improvement?," Journal of Economic Behavior & Organization, Elsevier, vol. 67(3-4), pages 657-670, September.
  7. Peter Leeson, 2009. "The calculus of piratical consent: the myth of the myth of social contract," Public Choice, Springer, vol. 139(3), pages 443-459, June.
  8. Peter T. Leeson, 2007. "An-arrgh-chy: The Law and Economics of Pirate Organization," Journal of Political Economy, University of Chicago Press, vol. 115(6), pages 1049-1094, December.
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