Analytics

 Investment Office

Selecting relevant market observations

Investment Thoughts
Macro Observations
Capital Markets
Markets in History
Beyond Finance
Quotes on the Fly
Chart Gallery
Academia
Coffee Chronicles
Archives
Asset Management
Pension Funds
Family Offices
Wealth Managers
Asset Managers
About
Disclaimer
Privacy Policy
Cookie Policy

   Investment Thoughts - Beyond Finance

No territory, no profit: The pirate organization and capitalism in the making
Our goal in this short essay is to envisage a broader picture that takes seriously other types of organization that gravitate at the periphery of capitalism’s territories.

 

 

Abstract


Organizational and management research focuses extensively on topics of legitimacy and competition. At center-stage lie for-profit organizations, which are often assumed to operate in economically turbulent environments embedded in stable sovereign institutions. Our goal in this short essay is to envisage a broader picture that takes seriously other types of organization that gravitate at the periphery of capitalism’s territories and redefine the norms of competition and legitimate profit.

 

Rehearsing the punch line of our recent book (Durand & Vergne, 2010, 2013), we advocate for a line of research that explores the boundaries of capitalistic expansion by examining the interactions between three types of actors: sovereign states and their monopolies, which map and impose norms upon the new territories of capitalism (a process we call “normalization”); legitimate for-profit corporations, which generate a profit in the wake of sovereign normalization (we call them “organizations-of-themilieu”); and pirate organizations, operating from the fringes of capitalism to contest the sovereign’s norms in the name of a “public cause”.

 

We are especially attentive to the convergent patterns of interactions we observed across time and space on the high seas (17th century), on the airwaves (early 20th century), in cyberspace (since the 1980s) and at the heart of living species in the form of DNA research (since the 1990s). This leads us to assert that sea pirates, pirate radio stations, cyberpirates and biopirates have a lot more in common than prior research on piracy typically assumed

 

 

HEC Paris
durand@hec.fr

 

Ivey School of Business, Western University
jvergne@ivey.ca

 

 

 

M@n@gement, 2012/3 - Vol. 15, pages 265-272-Rodolphe Durand, Jean-Philippe Vergne

06.01.2013


 

Themes

 

Asia

Bonds

Bubbles and Crashes

Business Cycles
Central Banks

China

Commodities
Contrarian

Corporates

Creative Destruction
Credit Crunch

Currencies

Current Account

Deflation
Depression 

Equity
Europe
Financial Crisis
Fiscal Policy

Germany

Gloom and Doom
Gold

Government Debt

Historical Patterns

Household Debt
Inflation

Interest Rates

Japan

Market Timing

Misperceptions

Monetary Policy
Oil
Panics
Permabears
PIIGS
Predictions

Productivity
Real Estate

Seasonality

Sovereign Bonds
Systemic Risk

Switzerland

Tail Risk

Technology

Tipping Point
Trade Balance

U.S.A.
Uncertainty

Valuations

Yield