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Warfare at sea and profit: Corsairs, institutions and partnership companies

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  • Economou, Emmanouel/Marios/Lazaros
  • Kyriazis, Nicholas
  • Metaxas, Theodore

Abstract

In the present paper we propose that in states with relatively weak central authorities, decision makers had to develop market oriented organisation solutions to successfully face a grave external threat, and these solutions proved to be efficient. Using an interdisciplinary approach that combines institutional theory, history and strategy, we analyse a case study, the use of corsairs (privateers) by England and the United Provinces (Dutch Republic) in the late 16th and early 17th centuries. We have found that the development of partnership companies went hand in hand for commercial and military purposes. English and Dutch privateers proved to be economically efficient and superior to the centrally planned war operations of the Spanish empire.

Suggested Citation

  • Economou, Emmanouel/Marios/Lazaros & Kyriazis, Nicholas & Metaxas, Theodore, 2014. "Warfare at sea and profit: Corsairs, institutions and partnership companies," MPRA Paper 58985, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:58985
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Institutions; partnership companies; corsairs; strategy; coordination and cooperation mechanisms; 16th-17th century England and United Provinces (Dutch Republic).;
    All these keywords.

    JEL classification:

    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • N4 - Economic History - - Government, War, Law, International Relations, and Regulation
    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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