Bookshop orders for Frank Baum's 1900 classic, The Wizard of Oz, have surged in recent months as present authors seek inspiration to convey our financial plight. Being published at the end of a turbulent century for the U.S economy, the later half being characterised by waves of banking crises, Baum's characters and plot may be due for a Dail Eirinn broadcast.
With the Yellow brick road representing the gold standard, Dorothy's (original) silver slippers portraying the sixteen to one silver ratio, Baum's tale could feature as essential reading on any Economics course. Allowing for oversimplification, the metaphors on close inspection continue, the weak scarecrow representing the debt burdened farmers, the Tin man portraying the industrial workman who 'lost heart' from years of hard yet low paid labour, and Wall street bankers allowing themselves to the allegory of the supposedly brave, but in truth cowardly lion. While the emerald city expressed Washington preoccupation with green paper money, the Munchins played the simple role of ordinary folk. Sound familiar...
The Wicked Witch of the west aptly sports the role of the banks in the whole affair, but our politicians may learn most from the Baum's wizard; the fraud who claims illusory powers. I'm sure nobody would have problems devising a cast for a modern rewrite.
With the Yellow brick road representing the gold standard, Dorothy's (original) silver slippers portraying the sixteen to one silver ratio, Baum's tale could feature as essential reading on any Economics course. Allowing for oversimplification, the metaphors on close inspection continue, the weak scarecrow representing the debt burdened farmers, the Tin man portraying the industrial workman who 'lost heart' from years of hard yet low paid labour, and Wall street bankers allowing themselves to the allegory of the supposedly brave, but in truth cowardly lion. While the emerald city expressed Washington preoccupation with green paper money, the Munchins played the simple role of ordinary folk. Sound familiar...
The Wicked Witch of the west aptly sports the role of the banks in the whole affair, but our politicians may learn most from the Baum's wizard; the fraud who claims illusory powers. I'm sure nobody would have problems devising a cast for a modern rewrite.
