The Invisible Hook

The Hidden Economics of Pirates

By: Peter T. Leeson

Narrated by: Jeremy Gage

Length: 7 hrs and 41 mins

Publisher's summary

Pack your cutlass and blunderbuss - it's time to go a-pirating! The Invisible Hook takes readers inside the wily world of late 17th- and early 18th-century pirates. With swashbuckling irreverence and devilish wit, Peter Leeson uncovers the hidden economics behind pirates' notorious, entertaining, and sometimes downright shocking behavior.

Why did pirates fly flags of Skull & Bones? Why did they create a "pirate code"? Were pirates really ferocious madmen? And what made them so successful? The Invisible Hook uses economics to examine these and other infamous aspects of piracy. Leeson argues that the pirate customs we know and love resulted from pirates responding rationally to prevailing economic conditions in the pursuit of profits.

The Invisible Hook looks at legendary pirate captains like Blackbeard, Black Bart Roberts, and Calico Jack Rackam, and shows how pirates' search for plunder led them to pioneer remarkable and forward-thinking practices. Pirates understood the advantages of constitutional democracy - a model they adopted more than 50 years before the United States did so. Pirates also initiated an early system of workers' compensation, regulated drinking and smoking, and in some cases practiced racial tolerance and equality. Leeson contends that pirates exemplified the virtues of vice - their self-seeking interests generated socially desirable effects and their greedy criminality secured social order. Pirates proved that anarchy could be organized.

Revealing the democratic and economic forces propelling history's most colorful criminals, The Invisible Hook establishes pirates' trailblazing relevance to the contemporary world.

©2009 Peter T. Leeson (P)2009 Audible, Inc.

Critic reviews

"Leeson hangs the meat of his pirate tale on a sturdy skeleton of economics.... The Invisible Hook is a delightful read, thanks to Leeson's engaging writing. He reduces a veritable mountain of facts and history into an entertainingly educational experience." (Barron's)

"A brisk, clever new book." (The New Yorker)

eye opening

I've been reading tons of books on economics lately and this one piqued my interest in both history and content. I'd highly recommend to anyone who wants a deeper understanding of black markets, pirates, and risk versus reward.

A great read for people who love pirate history.

The book sucked drew me in with it's premise (whacky economics and pirates) and delivered. The narrator speaks with a clear, calm voice explaining the economic rational behind violent (and in the chapter on torture the first hand accounts Leeson cites are graphically violent) sea banditry in the 18th century Carribean.

Leeson has obviously done his research; taking 17th century primary sources such as government documents and first hand accounts of piracy an applying modern economic theory to explain it.

The only drawback I can forsee with this book is that a reader who doesn't have any prior knowledge of the carribean pirates may need to pick up an Eyewitness series or other book on piracy to understand a bit more of the context.

If you like pirates, history, economics, or theories on why people commit violent crimes this book is a must listen.

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If you manage a sales team (especially a commission-based one where you don't control their compensation), you must listen to this book. Enlightening and entertaining.

Excellent Read!

This book was not only educational, but insightful and a lot of fun to listen to as well! Pirates have a whole new dimension for me now. I found the in-depth description of the profit driven social organization truly fascinating.

Could have been summed up in a much shorter book.

This book was very interesting and has several great stories of real pirate happenings. It also shines a very different light on pirates and pirating, and what may have actually gone on on the high seas. My complaint is that the author spends a good deal of time repeating himself, whether to ensure his point is understood, or simply to fill more pages is unknown. The later chapters seem to just regurgitate information from earlier chapters, much the way I am doing in this review. Still, I can't help but recommend this book because I found it to be informative, entertaining, and well narrated.

Set sail for economics

A swashbuckling exploration of the economics of pirates. A great listen for people interested in economics, the golden age of pirates, or both.

Fun way to learn basic econ

This book is a fun way to learn some basic economic principles, and uses those principles to help readers/listeners understand why pirates acted the way they did, and why they organized their floating societies the way they did.

Etertaining and great as an audiobook

Fun to listen to as a audiobook. I would recommend anyone who likes pirates and want some interesting facts :-)

Tedious and repetitive

An interesting subject, and some good points made, but the author can’t seem to explain anything without immediately explaining it again, and then explaining it a third time for good measure. It feels like padding and gets old very fast.

an interesting treatise on the pirate economy

a friend of mine gave me this book because he knows I have an interest in Pirates. he also knows that I am I a libertarian and I'm not a big fan of how are current economy and governments are managed. this book was an interesting treatise on what motivated Pirates to operate Within the economy they created. I'm not entirely sure that everything the author posited is correct but it is an interesting analysis the how's and why's of what Pirates were doing in the 18th century