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The "Wizard of Oz" as a Monetary Allegory

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  • Rockoff, Hugh

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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  • Rockoff, Hugh, 1990. "The "Wizard of Oz" as a Monetary Allegory," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 739-760, August.
    • Handle: RePEc:ucp:jpolec:v:98:y:1990:i:4:p:739-60
    DOI: 10.1086/261704
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    Cited by:

    1. Kevin H. O'Rourke & Alan M. Taylor, 2013. "Cross of Euros," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 167-192, Summer.
    2. Levy, Daniel & Snir, Avichai, 2022. "Potterian Economics," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 1, pages 1-32.
    3. Bernard Saffran, 1991. "Recommendations for Further Reading," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 207-211, Winter.
    4. Fernholz, Ricardo T. & Mitchener, Kris James & Weidenmier, Marc, 2017. "Pulling up the tarnished anchor: The end of silver as a global unit of account," Journal of International Money and Finance, Elsevier, vol. 74(C), pages 209-228.
    5. Cecil E. Bohanon & Michelle Albert Vachris, 2011. "Economics and Literature: The Gains from Trade," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 21, Edward Elgar Publishing.
    6. Avichai Snir & Daniel Levy, 2005. "Popular Perceptions and Political Economy in the Contrived World of Harry Potter," Others 0509012, University Library of Munich, Germany, revised 04 Jan 2006.
    7. Brian O'Roark, 2017. "Super-Economics Man! Using Superheroes to Teach Economics," Journal of Economics Teaching, Journal of Economics Teaching, vol. 2(1), pages 51-67, June.
    8. James Morley, 2016. "Macro-Finance Linkages," Journal of Economic Surveys, Wiley Blackwell, vol. 30(4), pages 698-711, September.

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