53 min listen
Peter Leeson on Pirates and the Invisible Hook
FromEconTalk
ratings:
Length:
72 minutes
Released:
May 25, 2009
Format:
Podcast episode
Description
Peter Leeson of George Mason University and author of The Invisible Hook talks with EconTalk host Russ Roberts about the economics of 18th century pirates and what we can learn from their behavior. Leeson argues that pirates pioneered a number of important voluntary institutions such as constitutions as a way to increase the profitability of their enterprises. He shows how pirates used democracy and a separation of powers between the captain and the quartermaster to limit the potential for predation or abuse on the part of the captain. He explains the role of the Jolly Roger in limiting damages from conflict with victims. The conversation closes with a discussion of the lessons for modern management.
Released:
May 25, 2009
Format:
Podcast episode
Titles in the series (100)
Chris Anderson and the Long Tail: Russ Roberts talks with Chris Anderson of Wired Magazine about the ideas in his new book, The Long Tail. Topics include the weird world of internet distribution and production, the wonders of the Sears catalog of the 1890s, and the economics of choice. by EconTalk