Saturday, November 7, 2020

Review of The Invisible Hook: The Hidden Economics of Pirates by Peter T. Leeson

This review was written by Eugene Kernes

Book can be found in:
Genre = Economics, History

Elaborate Description

It becomes more and more apparent that pirates had better democratic institutions than that the current developed democratic nations. The democratic system pirates created punished those that broke the laws of the ship and rewarded those that followed them. The way externalities were fixed on board pirate ships with no government is something developed countries should be jealous of. Captain's, whether they where merchant or pirate, that did not take care of their crew got justice served upon them by the pirate crew. The extra brutality that pirates are known for, actually was used to save both pirate and innocent sailor life alike. The gargantuan amount of economics used to explain pirate behavior is marvel. Economics can be described so eloquently only by a few economists. The transition from understanding economics, to the implications of it on pirate behavior is extremely smooth.


Book Details

Edition ISBN:  9780691150093
Pages to read:   215
Publication:     2009
1st Edition:      2009
Format:            Paperback

Ratings out of 5:
Readability    5
Content          5
Overall           5