please join me inwelcoming catherine smith . [applause] >> i was telling patrick if i had to mention sandals it might have drawn a bigger crowd in today but we're still having a goodtime without . baptists and bootleggers, you may be wondering how i came up with that title and the answer is my father is an economist, an academic economist, for many years cleansing university and he had a theory, he developed a theory of government regulation about five years ago that he called bootleggers and baptists. the way that the theory goes is it regulation will be more durable if there is a collection of moral interest pushing for and capitalists who have a profit motive and in the south it was illegal to sell alcohol for many years in and in places it still is. the baptists are in favor of that because it's a sin to drink on sunday and most other days to. the bootleggers are in favor of it because that opens the market for them. they can, it's the only place to get alcohol sobootleggers and baptists . i have a son, adam smith with ac. a

please join me in welcoming catherine smith. [applause] i was telling patrick i had a sample that might have drawn. a bigger crowd and today we will have a good time without it. baptists and bootleggers you might wonder how ile came up wih the title and the answer is my father is an economist, academic economist who is taught for many years at clifton university and he had a theory of government regulation about 35 years ago that he called bootleggers and baptists and the way the theory goes the regulation will be more durable if there is a coalition of moral interests pushing forth and capitalists that have a profit motive and of the example was on sundays in the south it was illegal to sell alcohol and in some places it still is. baptists are in favor of that because it is a sin to drink on sunday and most other days. the bootleggers are in favor of itar because that opens the mart for them. the only place to get alcohol so bootleggers and baptists. i have a son, adam smith, adam c smith and a few years ago he and my father co

now, it's my pleasure to introduce catherine smith. catherine smith is a journalist in history writer with a long-time interest in fdr and his times. she is the biographer of marguerite alice lahand who was fdr's private secretary counselor confidant from 1921 to 1941 and who served as his de facto white house chief of staff. in addition to her book the gatekeeper katherine co-authors a missile hand mystery series with kelly durham she also impersonates the hand for tell all talks about life with the roosevelts and is given more than 100 presentations at venues including the fdr library. a little white house in warm springs, georgia and the national world war two museum her most recent book is baptists in bootleggers a prohibition expedition through the south with cocktail recipes. she considers the repeal of the 18th amendment to be one of the greatest achievements of the early, new deal. catherine lives in anderson, south carolina with her husband leo please join me in welcoming catherine smith. well, i was telling patrick if i had a