Monday, November 26, 2012

11/25/2012 Links checked 8/25/2016

Bargain like a Somali

How to negotiate with pirates in the Horn of Africa


 SEIZURES of ships by pirates off the coast of Somalia may be down in recent months, but the interest of social scientists and economists in the country is undiminished. Because the place has been so stateless for so long, it provides a testing ground for theories about how people behave in the absence of meddlesome government. 

 Piracy isn't funny, its nothing like Capt. Jack Sparrow and his merry band of maritime misfits. 

"Captain Jack" caricature of a pirate or a capitalists?

There is a certain economic aspect of it that is so regular as to lend itself to study. There are actually some pretty decent records of thousands of ransom negotiations conducted between 1575 and 1739 and some patterns seen then seem applicable to the Somali operations now. THE ECONOMISTS recently looked into this and published some interesting finding which we link you to below: 


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