Wizard of Oz Case Analysis PDF

Preview

Summary

Wizard of Oz Case Analysis...

Description

Apduhan, John Lester Moreno, Angelo Paculba, Garr Adrian Quitoriano, Xavier Case Study The “Wizard of Oz” Introduction Perhaps America's favorite children's story, The Wonderful Wizard of Oz is also an illuminating commentary on the struggle for free money in the 1890s. The characters in the story represent real characters such as William Jennings Bryan. This article interprets allegory for economists and economic historians and highlights a number of elements that have not been explained by critics dealing with the politics of allegory. He checks Bryan and the box again for free money. Far from being money cranks, free money advocates had both theoretical and empirical arguments. This paper also serves a more traditional purpose. William Jennings Bryan and his supporters in the free silver movement, which play a central role in this story, have also been seen as a monetary crank by historians sympathetic to other issues. Here I show that Brian's money was considered surprisingly complex. And that in the light of modern monetary theory on most issues, their position differs from their opponents' positions of "healthy wealth". 3. L. The early years of Frank Bam's life turned out to be a perfect preparation for writing monetary metaphors. In 1856 in a wealthy family in Chittenango, New York, Bom, in his early 20s, wrote and directed a successful play, which moved to Broadway. In 1882 he married Mauld Gage, the daughter of one of Matilda's principal suffragettes, Jochlien Gage. Baum and his family later moved to Aberdeen, South Dakota, where he closely observed the marginal life that gave rise to the populist movement. He did not succeed in South Dakota, where, among other things, he published a small newspaper, The Saturday Pioneer, and several issues of Western Investor

magazine. In 1890, Baums moved to Chicago. While doing a number of jobs, he often visited the Chicago Press Club and met with some of the city's leading writers. There he no doubt heard a lot about the battle for the free silver coin, especially in 1896, when the Democratic National Convention was held in Chicago, in which William Jennings Bryan delivered his famous Golden Cross speech. The first book of children's stories was published in 1897, followed by The Wonderful Wizard of Oz in 1900. After moving to Hollywood, Baume devoted herself to writing children's stories, the most successful of which was a sequel to her masterpiece.

Background of Information The classic L. Frank Baum story "The Wizard of Oz" about the adventures of Dorothy and the Wizard of Oz. Baum wrote it as a metaphor for populism and its main theme, the Free Silver Movement. Dorothy represents the unique ideals of Americans. She is each one of us, our best self, self-respecting, innocent, but mediocre, healthy, and audacious. Toto is also a double meaning, a play on nondrinker. Prohibitionist were one of the most loyal allies of the Populists. When Dorothy started on Yellow Brick Road, Toto attacked her "sneak" behind her, as Prohibitionist solemnly tailed populists. The Twister that brings Dorothy to Oz symbolizes the popular cyclone that flows across Kansas in the early 1890s. Populist artist Mary E. Lease was often referred to as the "Kansas Cyclone." The free-silver movement was often compared to a political whirlwind that had taken the nation by storm. The Wicked Witch of the East represents the financial and industrial interests of the East and its key political allies, the main targets of the populist poison. Farmers in the Midwest often attributed their troubles to the nefarious practices of Wall Street bankers and captains of industry, whom they believed were engaged in a conspiracy to "enslave little people." In Oz's book version, Dorothy enters Yellow Brick Road in silver shoes, not ruby slippers. A key element of the populist platform was the demand for "free silver" or "free and unlimited currency of silver and gold" in the default ratio of 16 to 1-16 ounces of silver to 1

ounce of gold. Yellow Brick Road is the golden way or standard. It is made entirely of gold stones. Even the name "Oz" means "ounce", which is the standard measure of gold. The Brainless Scarecrow represents Midwestern farmers whose years of deprivation and satire have created feelings of inferiority and self-doubt. Populist leaders were often portrayed as straightforward stalwarts who did not understand the real reasons for their economic situation. Tin Man represents the country's workers, especially industrial workers, with whom Populist hopes for a common goal. Its rusty condition is similar to that of Labor during the Depression of the 1890s. The cowardly lion is none other than William Jennings Bryan. Bryan was known for his "roaring" rhetoric and was sometimes depicted in the press as a lion, as was the Populist Party himself. Although Bryan's supporters considered him brave, his critics opposed the war in 1898 considered him "cowardly". Subsequent Annexation of Spain and the Philippines protested. The wizard hails from Omaha, where he becomes a talented ventriloquist and later a circus balloonist. Bryan, similarly, was from Nebraska, famous for his "hot air" rhetoric, and was somewhat like the ringmaster of a circus in his critics' minds. But how can William Jennings be both a magician and a lion? Just as some of Baum's metaphors work as a composite, the lion and the magician represent different aspects of Brian. Yet there are some who would argue that the magician is actually Mark Hanna, or perhaps the President of the United States. In the book, Tin Man, Scarecrow and Dorothy look at the Wizard differently. It is a symbol of chaos in politics due to the fact that politicians change faces with different people. Emerald Palace is thought to represent the White House, and Emerald City is thought to represent Washington, DC. To get there, a politician had to follow the golden path. Everyone was forced to wear "green glasses" - so that the world could see the different colors of money (green). This mirage kept the wizard’s power alive. The evil witch of the west is a cruel slave, and she represents the complex of nature's malicious powers that tormented Midwestern peasants and local power brokers. Her area is as dry as the western plains of Kansas, with ferocious wolves, greedy crows, and poisonous bees.

Winged monkeys are simple Indians. "Once we were free people living happily in the woods," the Monkey Leader said. Like Winkies and Munchkins, they are enslaved by evil witches and cannot be released until the water (fluidity) destroys her retention. The Good Witch of the North represents the workers of the North, and the Good Witch of the South represents the farmers of the South. It provides the distinction between the evil industrialists of the East and the railroad tycoons of the West. The Wonderful Wizard of Oz, the only innocent fairy tale ever written "for today's children only to enjoy" or an allegory on Populism.

Problem The Wizard of Oz’s political and economic symbolisms brought forth the issue about the advocacy of unlimited coinage of silver or the Free Silver Movement in the late 19th century in America and its monetary policies. The free silver movement was triggered by an act of Congress in 1873 that excluded the silver dollar from the list of authorized coins. During this time, the price of silver bullion was above the traditional mint price. So, the decision to remove the silver dollar had no instant impact and only aroused little public oppositions. However, years later when the bullion price fell below the mint price, the decision made during 1873 triggered the source of all future difficulties. Moreover, the elimination of silver dollar and increase in the reliance of paper money caused an economic depression. In sense, it has caused deflation and farmers were provoked with the falling price of farm products and an inability to repay rising mortgage costs leading to repossessed farms. Moreover, farmers receive a great backslash from this deflation as it is extremely favorable for debtors as it increases the value of debt, but it also increases the chances to default from debt. Consequently, debtors tend to lose during periods of deflation while gaining during inflation periods. So, supporters of the free silver movement include the farmers and debtors. Farmers believed that adding another currency would increase the price of their farm products, and debtors then hoped that this could enable farmers to pay their debts better that before. Hence, silver became the symbol of economic justice for the people.

The silver slippers of Dorothy played a significant role as it symbolizes the demand for free and unlimited coinage of silver. The yellow brick road from the story also symbolizes the dangerous path of gold standards puts the economy upon. The road was described as an uneven, broken, and missing altogether by the Scarecrow as he falling on the road repeatedly. The Scarecrow represents the farmers affected by the economic depression. Moreover, Dorothy with her silver slippers, were able to tread safely around the uneven surfaces of the yellow road which could mean that silver is the answer to the economic depression. This suggests that there is security and stability in the silverite ratio used prior to the Coinage Act of 1873, an event referred to subtly by the seven passages and three flights of stairs taken by Dorothy at the Emerald Palace for her meeting with the Wizard, and promotes the abolishment of the recently adopted gold standard. Only Dorothy’s silver slippers have the power to take her home to Kansas, just as the author of the story argues that the return of silver coinage in the economic monetary policy could result to economic prosperity to its struggling people

Areas of Consideration Alternative Courses of Action 1. To use gold standard as a monetary system a. Pros i. Gold maintains a value that has been understood across the globe throughout the past, and a gold standard self-regulates to fit the supply of currency to the necessity for it. ii. It creates certainty in international trade by providing a fixed pattern of exchange rates. iii. It obstructs the ability of governments or banks to cause price inflation by the outrageous problem of paper currency. b. Cons i. May cause lack of sufficient flexibility in the supply of money....