Pirate Governance and Self-Dealing

I learned a new word today - "self dealing" which is an apt term to characterize Manny Villar's recent actions. In his New Yorker article, James Surowiecki introduces this word and describes how Pirates (as in 'Pirates of the Carribean') adopted a system of governance to discourage such behavior. Towards the end of the article, he reaches the following conclusion:

"pirate governance, peculiar as it may sound, offers an intriguing example of how limits on executive power can actually make an enterprise more successful and, because workers are convinced they’re being treated fairly, can deepen their commitment."

Read the rest here.

(Hat tip to Marginal Revolution.)

Update (12:06pm): Just occurred to me, we have seen how mutiny can come about as a result of the leadership's self-dealing.