Pirates, Privateers, and the Business of State-Sponsored Looting скачать в хорошем качестве

Pirates, Privateers, and the Business of State-Sponsored Looting

The most profitable crime in history wasn’t piracy. It was piracy with government approval. For centuries, empires didn’t just tolerate pirates — they licensed them, financed them, and quietly profited. This video explores how privateers became one of the earliest forms of state-sanctioned outsourcing, turning looting into a business model and war into an investment opportunity. By following the money behind letters of marque, naval raids, and global trade routes, we reveal how governments privatized risk, socialized rewards, and erased the line between criminality and legitimacy. This isn’t just maritime history — it’s an origin story of modern financial incentives, moral hazard, and power disguised as law. Key Facts & Insights • Privateering allowed governments to outsource naval warfare without paying salaries or absorbing losses. • Letters of marque transformed piracy into a legal, state-approved business. • England, France, the Dutch Republic, and other empires all relied heavily on privateers to weaken rivals. • Investors, insurers, and ports profited from sanctioned looting long before modern finance existed. • Sailors bore extreme risk while wealth and political power accumulated far from the battlefield. • Pirates emerged when privateers realized they could cut the state out of the profit equation. • The same incentive structures behind privateering still shape modern financial and geopolitical systems. #FinancialHistory #EconomicHistory #MoneyAndPower #HistoryOfMoney #FinancialSystem #FinancialHistorian #EconomicHistoryExplained #GlobalCrisis #TheFinancialHistorian ________________________________________ Further Reading • The Invisible Hook by Peter T. Leeson — a sharp, accessible look at the economics and incentives behind piracy. • Empire of the Deep by Ben Wilson — a sweeping narrative on how naval power and trade shaped global empires. ________________________________________ If this gave you a new perspective, hit subscribe and hype this video. History has the answers, and I’ll show you where to look.