Click through to listen to Peter Leeson discussing Somali pirates and their 18th century brethren with Kai Ryssdal on Marketplace yesterday.

A quick excerpt:

Ryssdal: Are there remnants of that 18th century system that we see today with these Somali pirates, for example?

LEESON: It doesn’t appear that modern pirates are using a democratic form of governance. And I think the reason for that is that the crew members and the captain, if you will, of a modern Somali pirate crew is probably appointed by the landed financier. Kinda tribal chieftains who provide the seed capital for ships, who has an interest in making sure a captain of his choosing is in charge. With that difference aside, what you do see are the sorta rules of social organization emerging about how to divide up booty, and there’s also a kind of judicial system.