Pirates ran a system of workers' compensation that paid specified amounts in pieces of eight for the loss of particular body parts, with values reflecting each part's value in pirating, which both insured against injury and incentivized crew to give full effort in battle.

factualpending

Speaker

Peter Leeson

Evidence Quote

the different values that were attached to these body parts presumably reflected the different value that pirates placed on them in the act of pirating

Source

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

My Notes

Loading notes...