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The "Wizard of Oz" as a Monetary Allegory

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Author Info
Rockoff, Hugh

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Abstract

The Wonderful Wizard of Oz, perhaps America's favorite children's story, is also an informed comment on the battle over free silver in the 1890s. The characters in the story represent real figures, such as William Jennings Bryan. This paper interprets the allegory of economists and economic historians, illuminating a number of elements left unexplained by critics concerned with the politics of the allegory. It also reexamines Bryan and the case for free silver. Far from being monetary cranks, the advocates of free silver had a strong argument on both theoretical and empirical grounds. Copyright 1990 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 98 (1990)
Issue (Month): 4 (August)
Pages: 739-60
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Handle: RePEc:ucp:jpolec:v:98:y:1990:i:4:p:739-60

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  1. Donna M. Kish-Goodling, 1998. "Using The Merchant of Venice in Teaching Monetary Economics," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 29(4), pages 330-339. [Downloadable!]
  2. Ranjit S. Dighe, 2007. "The Fable of the Allegory: The Wizard of Oz in Economics: Comment," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 38(3), pages 318-324. [Downloadable!]
  3. Bradley A. Hansen, 2002. "The Fable of the Allegory: The Wizard of Oz in Economics," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 33(3), pages 254-264. [Downloadable!]
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