A century ago, Dorothy and Toto set off down the Yellow Brick Road to encounter the Wizard. Or was it the money system, as some critics claim? This Wizard is a tale for our own times of beauty, love and courage – and small dogs. A modern Wizard of Oz for the days of derivatives, sub-prime mortgages and Goldman Sachs.
What makes The Wizard especially interesting:
It is one of those unusual examples of economics making good art – there aren’t very many.
It is a successful re-working of the old Wizard of Oz, based on the idea that Frank Baum intended the original as a Populist diatribe against the Gold Standard.
David Boyle is a historian of money and a fellow of the New Economics Foundation, on the frontline of the debate about the future of the financial system.
This edition also includes a note about the meaning of the original Wizard of Oz and David Boyle’s celebrated speech at the launch of the Brixton Pound in 2009.
Contacts: David Boyle 07977 930220 ([email protected])
Andrew Simms 07957 656370 ([email protected])
“Do you know, I can feel something happening,” said the Cow.
Dottie could suddenly feel what she meant. It was as if they had flicked a switch, and every computer and light bulb in the whole world had come alive all at once. There were small green shoots on the sidewalk. There were creepers wrapping themselves around the NICE Welcomes the World banner. The window boxes were alive with fruit. Something was happening.
“It’s true,” said the Robin, cocking his ear slightly. “I can hear the world coming alive. I can hear rivers springing to life, and glaciers shifting, and deserts sprouting for the first time in a thousand years. I really can. I can hear concrete cracking, and buds bursting and bees buzzing for the first time.”
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In his “Short History of Debt,” Robert R. Doane says:
“The total debt of the world, public and private, was 700 billions of dollars at the end of 1929.
“The world debt increased 47 per cent. during the 17th century, 266 per cent. during the 18th century, and 12,000 per cent. at the end of the 19th century.”
What of the 20th century ? Can we carry it ?
The Rev. F. It. Drinkwater has pointed out that from 1920 to 1933 Britain paid £18,300,000,000 for interest and debt repayments, and yet at the end of 1933 the debt was £300,000,000 more than it was when she started to pay it off! He went on to say:
“It is all a huge swindle. There is nothing wrong with this poor old country except that it has foolishly let go its power over its own money, and is now completely in the hands of the moneylenders.”