A great pirate leader could extract some rents from his crew because crew members would willingly sacrifice autonomy or accept a lower expected return to be allied with a superior strategist who raised their chances of success—illustrated by Blackbeard shooting a crew member in the kneecaps to remind everyone what he was capable of.

causalpending

Speaker

Peter Leeson

Evidence Quote

Blackbeard discharges his pistol and shoots the guy in the kneecaps... he did this too just to remind everyone that kind of what he was capable of

Source

Peter Leeson on Pirates and the Invisible Hook 05/25/2009EconTalk
Created: 6/17/2026, 10:31:31 AM

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