18th-Century Pirate Constitutions Included Workman's Compensation for Limbs Lost in Battle
Peter Leeson · a16z Podcast | The Why Behind the Weird · Jan 2, 2019 · at 25:50
Economist Peter Leeson describes how 18th-century pirate constitutions specified explicit compensation schemes and disability payouts for crew members injured during raids.
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“Another key thing was piratical social insurance, a kind of workman's comp system. You know, if you lost your left arm in battle with a potential prize, you would receive out of the crew's common booty that he'd seized, compensation of a certain number of pieces of eight for that fact.”
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