Wednesday, March 18, 2009

The Gold Standard and OZ

An interesting BBC article talking about the gold standard, and The Wizzard of OZ. (via Mankiw)

4 comments:

  1. The idea of using a story to tell an economic story is very interesting. However, I have found the opposite paradigm to be true in my own life. Since learning a lot of the basic economic theory that we have covered, I've wanted to use those concepts to explain non-economic instances. An article like this reveals the functionality of allegory for understanding complex issues, whether economic or otherwise.

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  2. I agree with Nicholas. It is very insightful and kind of funny way to explain complex economical principals from the past that can be explained with a familiar story. Relating complex academics especially economics with a story that everyone is familiar with is a very good way to explain the economic history of America. Relating things to prior knowledge is a tool for learning. I had a world religions class in the past and we used this book called the, "TAO OF POOH." This book was to explain religions of the far east such as Jainism or Buddhism. I may be off topic but it is an interesting way to explain complex academic subjects. Has anyone jammed to the Pink Floyd thing to Wizard of Oz, also a good way to creep yourself out!

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  3. I think it's weird that the Wizard of Oz has so many stories, scandals, or whatever you wanna call it related to the film: This gold standard one is the third one I've heard, then there's the Pink Floyd thing that Patrick mentioned above, and then there's that rumor (I've never been able to see this happen so I don't know if it's true)that one of the munchkins hangs himself during the film and if you look reaaalllyy closely you can see it.I think there's alot of conspiracy theories related to this movie in general-it is just one of those significant films that people like to analyze and probe to find similarities with other things or real life.

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  4. I have heard this debate before. I was in an American History class. I never till reading this article see that their is a valid case to be in made in stating that Baum was using the politics of his times ass allegory. Its wierd how academics can take a simple story and relate it several subject such as Economimcs, History, and Social Science. I also remember my Professor stating there was alot of antisemetic message in the book as well. I dont know never having reading the book myself. I was told that OZ turns out to be a Jewish New York Banker, so maybe all this speculation had some truth to it.

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