daily reference

By Edward L. Glaeser, NYT, September 1, 2009

Perhaps the most famous example of economics-in-the-enchantment is “The Wizard of Oz,” which has been interpreted by Henry Littlefield and Hugh Rockoff as an allegory about the monetary policy debates of the populist era. According to this view, the Scarecrow represents the farmer, the Tin Woodsman is the working man, the Cowardly Lion is William Jennings Bryan, the Wicked Witches of the East and West are Grover Cleveland and William McKinley, and the Wizard, associated with green money and ounces of gold (Oz), is Marcus Alonzo Hanna himself.
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