“Some people without brains do an awful lot of talking” ~ the Scarecrow, The Wizard of Oz

Please visit JWT’s Journal for Part Three of John Wayne Tucker’s illuminating look at the economic wizardry of the day. I think you’ll find some surprises that change the way you view this famous classic film! ~ Clio

What Kind of Economics is This? Part Three:

… any work of great literature is rarely just about its obvious story; there are usually underlying meanings that make it much more complex. The 1900 novel, The Wonderful Wizard of Oz, written  by L. Frank Baum, is really about a political movement known as Populism and the matter of the United States being placed on the Gold or Silver Standard. This political movement has existed in many places at different times, but became somewhat popular in America in the 1890’s as farmers began to feel pressured by the Industrial Revolution. Populism was a grassroots-type of movement in the United States that favored the farmers and the poor. It took issue with Industry, banks and especially railroads. One of the debates that arose from the Populist Movement was an argument over the Gold Standard versus Silver… please click on the link below for the full article:


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