The Economics of 'Certaine Lewd and Ill-Disposed Persons': Comment on Leeson

Abstract:     
In The Invisible Hook, Peter T. Leeson explores “the hidden economics of pirates.” The implications of his work are many, and there are several clear ways in which scholars can build on his insights. First, exploring piracy helps us better understand the rent-seeking societies of mercantilist Europe. Second, public and private policy toward pirates helps us better understand the institutions and organizations that emerge in order to govern and manage common resources. Third, the nearly universal condemnation of pirates by religious authorities and political leaders as well as the association of pirates with the demonic and Satanic suggests further directions for research into the interactions between ideology, politics, and economic institutions.

Keywords: Austrian Economics, New Institutional Economics, pirates, trade, organization, rent-seeking

JEL Classification: A11, A12, B53, D02, D23, F13, F15, N40, N41, N43, N90

working papers series