Over dinner the other night I was explaining to my kids the bootlegger and baptist theory of regulation of Bruce Yandle–how Baptists want to ban liquor sales on Sunday because it’s the Lord’s day and how bootleggers want to ban liquor sales on Sunday because it’s creates demand for illegal liquor. Before I could explain how the advocacy of the Baptists allows a politician to explain his support for banning liquor sales on Sundays without having to expose his love of bootleggers and their support for his candidacy, my eleven year old said:
Can’t people buy their liquor on Saturday and keep it in the refrigerator until Sunday when they want to drink it?
Good point. Good economist in the making.