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The Fable of the Allegory: The Wizard of Oz in Economics: Comment
Abstract:Although recent research strongly suggests that L. Frank Baum did not write The Wonderful Wizard of Oz as a monetary or political allegory, the Populist-parable interpretation of his book remains a tremendous teaching tool in economics classes. The author offers some background on the rise and fall of the Populist interpretation, in recognition of students' natural curiosity about Baum's intentions. He also offers a classroom-ready version of the parable that synthesizes several different versions of that interpretation.
Keywords:bimetallism  economic history  fiat money  gold standard  monetary economics  teaching economics  The Wonderful Wizard of Oz
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