Jacob R. Smith
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Categories
All (6)
Economic History (5)
Entrepreneurship (1)
Finance (1)
Industrial Organization (1)
Money & Banking (1)
Public Choice (4)
Public Health (1)
Regulation (2)
Welfare & Public Health (1)
Work in Progress (2)
Working Paper (4)

Explore My Research

My research sits at the intersection of historical political economy, public choice, and the political economy of regulation — when regulation serves the public interest, and when it instead protects incumbents or substitutes for order that markets and communities already supply. Browse below, or filter the working papers by topic. Click any card to read more.

Working Papers

The Father of Food and Drug Law as Strategic Regulator
Dr. Harvey Wiley and the Political Economy of the Bottled-in-Bond Act of 1897
Regulation
Public Choice
Economic History
Working Paper

A public-choice reinterpretation of the 1897 Act, combining a newly hand-collected district-level panel of bonded-whiskey withdrawals, newspaper price data, and the…

Private Mechanisms for Stopping Diamond-Dybvig Runs
Evidence from U.S. Newspapers, 1889–1929
Money & Banking
Economic History
Public Choice
Working Paper

Hand-coding 544 bank runs from digitized newspapers shows that banks and their communities stopped runs with a rich toolkit of private, market-based mechanisms — even before…

Assuring Consumers of Authenticity, Safety, and Quality in Early American Whiskey Markets
Entrepreneurship
Economic History
Regulation
Working Paper

Before federal regulation, whiskey was a textbook market for lemons — yet it thrived. How did entrepreneurs privately assure consumers of quality?

Bootleggers Behind the Baptists
Wine-Industry Influence in Switzerland’s 1908 Absinthe Referendum
Public Choice
Public Health
Economic History
Working Paper

Did wine producers — not just public-health reformers — drive Switzerland’s 1908 vote to ban absinthe? A ‘Bootleggers and Baptists’ test using a newly assembled canton-level…

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Works in Progress

The End of Prohibition and Alcohol-Firm Stock Prices
Working title
Finance
Industrial Organization
Economic History
Work in Progress

An asset-pricing and industrial-organization study of how repeal of Prohibition reshaped the value of incumbent alcohol firms that had enjoyed a state-enforced oligopoly.

Alms and Ale
A Malthusian Test of Welfare Generosity and Alcohol Consumption in OECD Countries, 1995–2023
Welfare & Public Health
Public Choice
Work in Progress

Do more generous welfare states inadvertently raise demand for ‘vice’ goods like alcohol? A panel test of a Malthusian hypothesis across the OECD.

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© 2026 Jacob R. Smith