A Book with Legs Podcast Summary
Episode: Richard Blakemore - Enemies of All
Release Date: August 19, 2024
Introduction
In this episode of A Book with Legs, Cole Smead, CEO and Portfolio Manager at Smead Capital Management, welcomes Richard Blakemore, an Associate Professor in Social and Maritime History at the University of Reading. Blakemore discusses his newly published book, Enemies of All: The Rise and Fall of the Golden Age of Piracy, delving into the intricate relationship between piracy, economics, and international law during the 16th to 18th centuries.
Guest Background
Richard Blakemore brings over a decade of expertise in maritime and social history, having completed his PhD at Cambridge University and postdoctoral work at Oxford. His academic focus encompasses the lives of ordinary maritime communities and the broader implications of piracy on empire-building and economic systems.
Defining Piracy and Plunder
Blakemore begins by clarifying the distinction between piracy and plunder. He defines plundering as the violent seizure of goods at sea, which can be either legal or illegal. Legal plunder, often termed privateering, is sanctioned by a sovereign during wartime, allowing individuals to attack enemy ships under official authorization. Conversely, piracy refers to unauthorized plundering, deemed illegal despite similar methods.
“Plundering as an activity is not automatically piracy, it's not automatically illegal. There are many totally legal ways to plunder... If you're doing plundering without permission, that's piracy.”
— Richard Blakemore [03:38]
Economics of Piracy: Investment and Returns
The conversation highlights piracy as a profitable business akin to modern hedge funds. Investors would finance plundering voyages with the expectation of high returns, much like investing in performance-based funds today. Blakemore draws parallels between pirate ventures and contemporary financial structures, emphasizing the role of capital in enabling piracy.
“It's a very profitable business... it's a big business and it is clearly considered to be a worthwhile and legal investment by enough people.”
— Richard Blakemore [07:19]
Labor Market and Piracy Surge Post-War
A significant surge in piracy often followed the end of major conflicts, such as the War of the Spanish Succession (ending around 1713). Soldiers and sailors, now unemployed, turned to piracy due to a surplus of skilled maritime labor and limited legitimate employment opportunities.
“Most people who become involved in piracy or accused of piracy... have at some point been involved in the navy or in legal plundering.”
— Richard Blakemore [09:46]
Trade Routes and Colonial Development
Piracy thrived along lucrative trade routes, particularly in the Caribbean and the Indian Ocean. Blakemore explains how plundered goods fueled the growth of colonial economies, with piracy acting as an early investment mechanism that supported the establishment and expansion of colonies through the influx of wealth.
“Plunder has a key role as an early kind of spark to that by providing quick returns, which you don't get from the investment in tobacco or sugar.”
— Richard Blakemore [24:16]
Slavery and Piracy's Role in the Economy
The episode delves into the intertwined relationship between piracy and the transatlantic slave trade. Profitable plundering ventures often invested in the burgeoning slave economies of the Caribbean, which in turn stabilized and expanded the economic structures that later suppressed piracy through increased imperial control.
“All of sugar is based on slavery. And the investment from plundering is clearly going into the growth of the slave economy in the Caribbean.”
— Richard Blakemore [47:46]
Legal Framework and International Law
Piracy significantly influenced the development of international law. Debates over the legality of plunder, the authority of sovereigns, and the classification of privateers versus pirates contributed to the emergence of modern international legal standards.
“The laws that apply to those activities are developing and changing across this period. They're changing in scope, they're changing in process...”
— Richard Blakemore [03:38]
Cultural Representation and Image of Pirates
Blakemore discusses how cultural narratives and literature, notably A General History of the Pirates, shaped the modern perception of pirates. These stories often exaggerated and mythologized piracy, contributing to the enduring legendary image of pirates in popular culture.
“The general history of the pirates is the most important... It has defined how we've seen piracy ever since.”
— Richard Blakemore [75:35]
Specific Pirates and Their Stories
The episode highlights notable figures such as William Dampier, Henry Avery, William Kidd, and Blackbeard. Blakemore examines their voyages, trials, and contributions to the pirate legacy, emphasizing how their actions and the subsequent narratives have cemented their places in history.
“William Dampier is a fascinating individual who starts out trying various kinds of legitimate trades as a sailor... He writes a bestselling book, Voyage around the World.”
— Richard Blakemore [53:02]
Institutions Impacted by Piracy: Insurance and Trade
Piracy's influence extended to the development of maritime insurance and institutions like Lloyd’s of London. As piracy threatened trade, the need for insurance against plunder drove the commercialization and growth of these financial institutions, which remain pivotal today.
“Marine insurance is, I think, the first major insurance market to develop in a major commercialized way. It originates... piracy is one of the things that you are insuring against.”
— Richard Blakemore [70:29]
Conclusion and Final Insights
Blakemore concludes by emphasizing the profound impact of piracy on global history, economics, and law. He underscores the necessity of critically examining historical narratives to understand the complex reality behind the romanticized image of piracy.
“The key message... the general history has just kind of set that image. It's where a lot of the illustrations come from, the pictures, the stories.”
— Richard Blakemore [75:46]
Notable Quotes
- Richard Blakemore [07:19]: “It's a very profitable business... it's a big business and it is clearly considered to be a worthwhile and legal investment by enough people.”
- Richard Blakemore [24:16]: “Plunder has a key role as an early kind of spark to that by providing quick returns, which you don't get from the investment in tobacco or sugar.”
- Richard Blakemore [75:35]: “The general history of the pirates is the most important... It has defined how we've seen piracy ever since.”
Recommendations
Blakemore encourages listeners to explore his book for a deeper understanding of the multifaceted nature of piracy and its enduring legacy in shaping modern economic and legal systems.
Follow Richard Blakemore:
- Twitter: @RBmaritime
- University of Reading Profile: Read More Here
- Upcoming TV Features: Collaborations with National Geographic and other educational platforms.
This summary is intended for informational purposes and provides an overview of the podcast episode discussing Richard Blakemore's insights on piracy and maritime history.