Somali pirates: maybe nothing works?

I am almost convinced that Naval convoys are the best approach to the Somali pirates, though some have commented over at Orange Punch that they would be expensive and questioned whether that's the best use of naval resources. And now here's a dialogue on Bloggingheads TV between Dan Drezner of Tufts and Bob Farley of KY, which suggests maybe there is no good cost-effective solution. Here's a subsequent comment by Dan, and a piece from Foreign Policy magazine that goes through seven possible scenarios and concludes all would be less than optimal. So there's no solution? I still think a combination of arming commercial vessel crews and convoying them (you might not need warships) would at least reduce the incidence. But the point that it's hardly the most important ctisis around -- despite the compelling TV it made for a few days -- is worth considering also.