For John, BLUF: An interesting story. I wonder who writes about this up here? Nothing to see here; just move along.
The National Endowment for the Humanities has finally paid off, with this article by Professor Mark G Hanna.♠♥
I remember an inkling of this from my history classes when I was young, but this article makes clear the emerging understanding of how to accumulate capital and to make economies run. Check your background and you may find a pirate lurking there.
Now the question is, who were more the pirates, the Moors and the Brits?
Speaking of Pirates, did you see the price for the Kindle edition of his book (link below). It is $31.72, US currency. Just when the Kindle was reviving reading we find publishers charging prices designed to drive away those readers.
Hat tip to the InstaPundit.
Regards — Cliff
♠ He has written this up in book form as Pirate Nests and the Rise of the British Empire, 1570–1740
♥ Unfortunately, Professor Hanna will probably be turning in his US Passport for one stamped "California", after they succeed from the Union. He will need to do that to keep his job at UC-SD.