Pirate economics

Here’s a quick recap: I write about the history of gambling. Much gambling used to be illegal. Gaming is organized. Therefore, I write about organized crime.

I’m always eager to find other forms of organized crime to compare gambling syndicates to. So imagine my delight when I learned that economist Peter Leeson has written a paper on the economics of pirating, and is even writing a book about the subject. As he says on the Austrian Economists blog:

Finally, I’m now in the process of writing a book on the economics of pirates entitled, The Invisible Hook: The Hidden Economics of Pirates, History’s Most Notorious Criminals. It’s currently under contract with Princeton University Press and, with any luck, will be out in 2009. Here I explore in depth the economics of all manner of pirate behavior.

The Austrian Economists: An Economics of Pirates Research Update

How can you not like “the invisible hook” as a title?

If you want to read the article Leeson’s already written on pirate economics, check it out here: “Pirational Choice: The Economics of Infamous Pirate Practices.”

I’m looking forward to reading this one. I’m intrigued with Leeson’s reconstructing the transactions of a group that didn’t leave many records, as there are obvious parallels with illegal gamers.