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Pirate Organization: Yesterday and Today

In: Maritime Piracy and Its Control: An Economic Analysis

Author

Listed:
  • C. Paul Hallwood

    (University of Connecticut)

  • Thomas J. Miceli

    (University of Connecticut)

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.

Suggested Citation

  • C. Paul Hallwood & Thomas J. Miceli, 2015. "Pirate Organization: Yesterday and Today," Palgrave Macmillan Books, in: Maritime Piracy and Its Control: An Economic Analysis, chapter 2, pages 10-19, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-46150-6_2
    DOI: 10.1057/9781137461506_2
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