Paying Pirate Demands Essay -- Piracy

When some(prenominal) people think of pirates they think of the fictitious Hollywood films that draw the animated characters that have shaped our perception of pirates today. The reality of the situation is that pirates argon very real and have emerged as a major panic to the maritime pains as well as ship owners and discipline economies alike. Although the threat of plagiarism has yet to receive the attention that numerous touch it deserves, piracy has increasingly affected the way in which the maritime industry conducts business with other countries in many ways. Piracy not lone(prenominal) affects the entangled nations both economically and politically, it also contributes to ship owners overall terms structures as well as day to day operations. We will debate the ethical issues surrounding the current concerns of paying pirate demands, as well as evaluate the impact to the affected parties if measures were put into place to calculate the issue. Piracy is caused by both political and economic factors. Most of the nations involved in piracy have very poor populations. Although obviously unethical, many citizens of foreign nations such as Somalia and many areas in West Africa but do not have any other means of providing for their families, which in turn makes piracy a very attractive option. Economically, piracy is a very cost effective strategy to earn substantial gain with minimal cost. In many cases a ship can be seized by pirates rather inexpensively and very quickly, then later released bandaging to the owners for a substantial monetary amount received from a ransom. Politically, piracy occurs simply because of a lack of enforcement against piracy across the globe. In many cases, if a ship is known to have been taken over by pirates foreign gov... ...cil on Foreign Relations. Retrieved April 20, 2012, from Combating Maritime Piracy http//www.cfr.org/france/combating-maritime-piracy/p18376Bowden, A. (2010). The Economic cost o f Maritime Piracy. Lansing, P., & Peterson, M. (2011). Ship-Owners and the Twenty-First Century Somali Pirate. The Business Ethics of interchange Payment. Journal of Business Ethics , 507-516.Rosenberg, D. (n.d.). Retrieved April 20, 2012, from The South China Sea http//www.google.com/imgres?hl=en&sa=N&biw=1366&bih=667&tbm=isch&tbnid=SSBYIkQ2To0auM&imgrefurl=http//community.middlebury.edu/scs/maps_images_alphabetical.htm&docid=61PVkRrq1Pnx0M&imgurl=http//community.middlebury.edu/scs/maps/modern%252520piracy%2Stopford, M. (2009). Maritime Economics third Edition. New York Routledge.Warren, R. C. (2011). Piracy and Shipowners Ethical Dilemmas. Society and Business Review , 49-60.