Education Bookcast

In the previous recording, I was speaking about political economy using the example of prison gangs, taken from David Skarbek's book Social Order of the Underworld. In this recording, I give the example of 18th-century Atlantic pirates, as discussed in Peter Leeson's The Invisible Hook. (It's a pun on Adam Smith's "invisible hand of the market".) We may have an image of pirates as fearsome, but this is at least somewhat deliberately manufactured by the pirates themselves. They wanted to have such a reputation so that their victims wouldn't resist as they looted their ships. There are parts of the pirate lifestyle, such as democracy and voluntarism, that we don't tend to discuss because they were part of life on a pirate ship but not something that they felt the need to advertise widely. What is most notable is that pirates' way of life seemed to be significantly preferable, and their governance significantly more "progressive", than that on merchant ships, which tended to be highly autocratic and abusive. It