Out of Control Policy Blog

Pirates: the Invisible Hook

Pirating off the Somali Coast has ignited popular interest in pirates and pirating. The modern pirates are motivated largely for economic gain. But, there is a long, rich history of pirating, pirate societies, and pirate management. No book has probably done more to explore these features from an economic perspective than George Mason University Economist Peter Leeson's The Invisible Hook: The Hidden Economics of Pirates, just released by Princeton University Press. I highly recommend it as a novel illustration and reader-accessible application of economic and public choice analysis. No mathmatical formulas!

Samuel Staley is Research Fellow

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Comments to "Pirates: the Invisible Hook":

Barry Parker | April 20, 2009, 5:01pm | #

I am from the maritime business. From an economic standpoint, the cost of piracy is small compared to overall costs of international shipping. But the issue has now transcended economics and become political.

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