>>2768 From the book Web of Debt: LESSONS FROM THE WIZARD OF OZ

“The great Oz has spoken! Pay no attention to that man behind the curtain! I am the great and powerful Wizard of Oz!”
The economic allusions in Baum’s tale were first observed in 1964 by a schoolteacher named Henry Littlefield, who called the story “a parable on Populism,” referring to the People’s Party movement challenging the banking monopoly in the late nineteenth century. Other analysts later picked up the theme. Economist Hugh Rockoff, writing in the Journal of Political Economy in 1990, called the tale a “monetary allegory.” Professor Tim Ziaukas, writing in 1998, stated: "“The Wizard of Oz” . . . was written at a time when American society was consumed by the debate over the “financial question,” that is, the creation and circulation of money. . . . The characters of “The Wizard of Oz” represented those deeply involved in the debate: the Scarecrow as the farmers, the Tin Woodman as the industrial workers, the Lion as silver advocate William Jennings Bryan and Dorothy as the archetypal American girl."
The Wizard of Oz has been called “the first truly American fairytale.” The Germans established the national fairytale tradition with Grimm’s Fairy Tales, a collection of popular folklore gathered by the Brothers Grimm specifically to reflect German populist traditions and national values. Baum’s book did the same thing for the American populist (or people’s) tradition. It was all about people power, manifesting your dreams, finding what you wanted in your own backyard. According to Littlefield, the march of Dorothy and her friends to the Emerald City to petition the Wizard of Oz for help was patterned after the 1894 march from Ohio to Washington of an “Industrial Army” led by Jacob Coxey, urging Congress to return to the system of debt-free government-issued Grenbacks initiated by Abraham Lincoln. The march of Coxey’s Army on Washington began a long tradition of people taking to the streets in peaceful protest when there seemed no other way to voice their appeals. As Lawrence Goodwin, author of The Populist Moment, described the nineteenth century movement to change the money system: "[T]here was once a time in history when people acted... [F]armers were trapped in debt. They were the most oppressed of Americans, they experimented with cooperative purchasing and marketing, they tried to find their own way out of the strangle hold of debt to merchants, but none of this could work if they couldn’t get capital. So they had to turn to politics, and they had to organize themselves into a party. . . . [T]he populists didn’t just organize a political party, they made a movement. They had picnics and parties and newsletters and classes and courses, and they taught themselves, and they taught each other, and they became a group of people with a sense of purpose, a group of people with courage, a group of people with dignity."
Like the Populists, Dorothy and her troop discovered that they had the power to solve their own problems and achieve their own dreams. The Scarecrow in search of a brain, the Tin Man in search of a heart, the Lion in search of courage actually had what they wanted all along. When the Wizard’s false magic proved powerless, the Wicked Witch was vanquished by a defenseless young girl and her little dog. When the Wizard disappeared in his hot air balloon, the unlettered Scarecrow took over as leader of Oz.
The Wizard of Oz came to embody the American dream and the American national spirit. In the United States, the land of abundance, all you had to do was to realize your potential and manifest it. That was one of the tale’s morals, but it also contained a darker one, a message for which its imagery has become a familiar metaphor: that there are invisible puppeteers pulling the strings of the puppets we see on the stage, in a show that is largely illusion.