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Fighting Maritime Piracy: Three Lessons from Pompeius Magnus

Author

Listed:
  • Christian Schubert

    (Max Planck Institute of Economics, Jena)

  • Leonhard K. Lades

    (Max Planck Institute of Economics, Jena)

Abstract

Piracy in international waters is on the rise again, in particular off the coast of Somalia. While the dynamic game between pirates, ship-owners, insurance firms and the military seems to have reached some kind of equilibrium, piracy risks generating significant negative externalities to third parties (e.g. in terms of environmental hazards and terrorism), justifying attempts to contain it. We argue that these attempts may benefit from a look back - through the analytical lens of public choice theory - to the most successful counter-piracy campaign ever undertaken, namely, the one led by the Roman general Gnaeus Pompeius Magnus (Pompey the Great) in 67 BC.

Suggested Citation

  • Christian Schubert & Leonhard K. Lades, 2012. "Fighting Maritime Piracy: Three Lessons from Pompeius Magnus," Jena Economics Research Papers 2012-017, Friedrich-Schiller-University Jena.
    • Handle: RePEc:jrp:jrpwrp:2012-017
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    References listed on IDEAS

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    More about this item

    Keywords

    Piracy; Somalia; Public Choice Theory;
    All these keywords.

    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913

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