A good source for this is Republic of Pirates, by Colin Woodard

Blackbeard was quite an effective pirate, especially compared to some of his peers. However, it's important to remember that the Golden Age of Piracy in the Caribbean wasn't even a generation long, and that material wealth was much less glamorous then than it is now. Blackbeard WAS effective however, until his death. He was able to get ships and cargoes with as few fatalities as possible by terrorizing people with his wild appearance and fearsome reputation. The men who sailed under his command respected him, and he seems to have held to the relative democracy of pirate ships of the time quite well. He also worked with corrupt local officials who would turn a blind eye to his piracy, especially in North Carolina.

Edward Teach