Wednesday, February 27, 2008

Populism and the Gold Standard: Modern Day Connections



This week we discussed the Wizzard of Oz as an allegory for the Populism, a political movement that promoted an end to the gold standard, increased rights for farmers and industrial workers and a reduction in corporate influence in government structures. For your blog this week, I'd like you to chose one of the following assignments that is thematically related to our current unit. Of course, you may complete both assignments if you're seeking extra credit.

Article A is an editorial by political columnist Terry Slater that questions the effectiveness of political parties in making social changes in modern society using the symbolism in Oz:


OR

Article B by New York Times columnist Paul Krugman analyzes how a return to the gold standard would affect modern society:
http://www.pkarchive.org/cranks/goldbug.html

Summarize the article and explain how it relates to the historical information you learned in class. Be sure to reference the author's position on modern political, social and economic issues in the United States. What are your thoughts on his perspective?


This assignment should be at least 200 words and include a response to the post of one or more of your peers.


Due Saturday March 1 by 8:00 pm

12 comments:

Larry Williams Jr. Blog said...

In Paul Krugmans article he explained that due to deflation in are economy during the great depression america has always had problems with there economy. He had many different ideas but one that stood out was this particular one."So, there is no obvious answer to the question of whether or not to tie a nation's currency to some external standard. By establishing a fixed rate of exchange between currencies--or even adopting a common currency--nations can eliminate the uncertainties of fluctuating exchange rates; and a country with a history of irresponsible policies may be able to gain credibility by association". In this sentence he explained that if all the nations would adopt into pretty the same adaption of currency a country that would probably have a horrible economic standard can highly improve. This was a great article because it explained all of the key terms like deflation and gold standard and really gave us a better understanding of it.

f@Rooq said...

In this article paul krugman, exposes and deatils how the remission of the gold standard can be harmful to the society, as well as the economy, and it highlights the main problem the gold sytem put forward. paul krugman put into perspective about how the world has changed and how it would be harmful to the people if the gold system is broughtback. it wud only raise the prices of our consumer goods, and seeing as expensive they already are, it wud make them unaffordable. it will increase the prices of consumer goods by 250 %, although it wud be beneficial to the corporation, it wud plunge society back into the depression era as it wud destroy the economy and stock market. the only supproters of the gold standard are the leading bussines tycoons which furthermore proves how ambigous it is. the gold tandard , if brought back, will also mess uo curency exchange rates and cause such an influx in the international inflation/deflation gradient, it wud take a decades to improvise a succesful exchange system. so in all perspectives, the u.s government was right to abandon the gold standard, seeing as america is an extremely diverse nation, and the topic of capital distribution has always minor conflict since the gilded age.the gold standrd in the gilded age was a problem for the farmers and workers, but now it wud be harmful to trust funds, smaller busineses, and government financed projects,such as schools. i would agree with larry that this article presents a highly understandable and explanatory view of the problems of the gold standard.

Tiff said...

The first article titled "Wizard of Oz": a parable for 2008? by Terry Sater speaks about how the movie may hold up as a political allegory for our time as well."Dorothy embodied traditional American values. The cowardly lion was William Jennings Bryan, who had railed against a gold standard for the American economy. The scarecrow stood for the country's farmers and the tin man its industrial workers. The "little people" — the Munchkins of the 1939 movie version — represented the working class. The "Yellow Brick Road" symbolized the gold standard, "oz" being the abbreviation for ounce." The movie seems like a regular childrens movie, but while in class when I learned that it was a allegory politically I was surprised. While learning about the symbolism I began to see how everything fit political wise. I do agree with the author when in the title he brings up that the it could be a allegory for our time as well, because today we are broken up into different groups. The hardworkers of today etc. History in a way always seems to repeat itself in one way or another.
T-Rez

Unknown said...

In the first Article, Terry Slater is reminiscent of the connection between the Wizard of Oz, modern politics, and populism. He says that the symbolism in the movie about the characterization and scheme is uncanny. Slater states that the "Government can provide protection, some basic services and the opportunity for people to reach their fullest potential in life. The individual's responsibility is to recognize the nobility of struggle, the worth of achievement and the inherent potential within himself," at the end of the article. Through my perspective, the author of this article is saying that it is under a persons own will and triumph can they have a heart, courage, or a brain because the government is doesn’t play host to these artifacts nonetheless be able to endow them to the general public. McKinley was in favor of the Gold Standard, which was symbolized by the Yellow Brick Road; he promoted commerce, trade, and industry. Bryan, on the other hand, was emblematic of the cowardly lion, which was in opposition to the Gold Standard. In conclusion of the gold standard, the US exchanged their gold into their common currency. Farmers and manufactures were pleased with the change in government and economical differences but those in favor of commerce, were not. If the conclusion of the gold standard had been different, today’s society may have still been using gold instead of wearing it around their necks and in their mouths. ;)

Ian said...

Ian Murphy
History
Block A

It has been observed by several people that “The Wizard of Oz” is a political allegory of the Populist movement at the time. Many of the characters, places and concepts used in the story represent a specific element or person that contributed to the movement. For example, the main character, Dorothy, represents the common American citizen, the Scarecrow as the country’s farmers, the Tin Man as the industrial workers, and the Cowardly Lion as William Jennings Bryan. The Yellow Brick Road represented the gold standard on which the movement was based, and even the name “Oz” itself is an abbreviation for gold’s unit of measurement, the ounce. The advancement of the plot follows the stages of the movement: the American citizens are swept away to a situation where they feel that money can solve their problems. The various social groups go to the capital in the hopes of obtaining the very things they wish they could have, only to discover that it never had that power to begin with. However, they discover that they had what they longed for all along. Today, we are experiencing a similar dilemma with finances, but several schools are teaching us that we as citizens of the United States have the power to fulfill our own wishes. Perhaps reflecting on the “Wizard of Oz” is the best way of assuring ourselves of this fact.

mikemcsherry291991 said...

After reading TERRY SATER artcile i started to see how much the wizard of oz represented America in the earley 1900's. Dorothy represented the american values, the muchkins were the American, The scarecrow showed how farmers lives were worse due to the gold stadard. The loin is supose William Jennings Bryan and the wizard of oz was suppose to be William McKinley, and the wicked wicth represented monplyist. You can see that the auther was symbolism to tell the story. The end also showes OZ flying alway on a hot air ballon which suppose to represent McKinley TRYING TO EXPAND America by taking terroitys.

mikeyydeks said...

After reading the first article "Wizard of Oz": a parable for 2008? by Terry Sate he explains how the government can also relate to the nothing that governments can do for people as individuals. The government being the wizard and the characters being the citizens, after talking with the wizard all he had to was tell them that they already had courage a heart and a brain in order for them to use it. In the movie the yellow brick road symbolized the gold standard. During class I realized that the movie had a double meaning that followed what were learning in class and fit in the politically, and helps understand the ways of the government .

Miss. Francis said...

Larry - S: I'm glad the article clarified the key terms for you but I wish you had explained them in your own words, too (what IS delflation, the gold standard?)

Farooq: G+: Thoughtful post that illustrates you clearly understood the concepts central to this past week's work.

TRez S-: Thoughful post but you forgot to respond to a peer - add a comment and I'll raise your grade to a G.

Ann - S: This is extremely sharp but you neglected to comment on another post. I'll revise your grade if you add that component.

Ian - S: like Ann, you did a great job analyzing the article but neglected to comment on a peer's post. Please do so and I'll raise your grade for this assignment.

Mike M- N+: This is a decent summary but lacks analysis, a peer comment and doesn't meet the 200 word requirement.

Mike - N+ :This is a decent summary but lacks analysis, a peer comment and doesn't meet the 200 word requirement.

KristinaCats said...

Dear cookie monster classmates,
My internet hasn't been doing well lately, but it's back and better than ever at this point. Populism is a political movement that promoted an end to the gold standard, increased rights for farmers and industrial workers and a reduction in corporate influence in government structures. The allegory of the populist movement was clearly reveled in The Wizard Of Oz. Life on a prairie wasn't an easy place to live being lonely and all. Aunt Em turned gray when she came to Kansas, her face lost color, her eyes lost their sparkle and her cheeks lost their rosiness. While Uncle Henry was gray as well because he worked morning till night and never experienced a time of joy. Gold was a standard of currency symbolized the idle rich of the industrial Northeast, as silver stood for the common folk. Added to the currency in the form of silver dollars, it meant more money, higher crop prices, and a return of prosperity. In Baum's original, the tale begins with a cyclone, a popular symbol for political revolution, taking Dorothy's house high into the sky. Along the way to Emerald City, the national capital Dorothy meets the Scarecrow or known as the farmer who has been told he has no brain but actually possesses great common sense, the Tinman or known as the industrial worker who fears he is heartless but discovers the spirit of love and the Cowardly Lion, or known as the reformers who turns out not being cowardly at all. The Lion is portrayed as William Jennings Bryan. As they killed the Wicked Witch of the West which is mortgage companies and heartless nature a triumph for the farmers came about and industrialism traveled west. The Land of Oz reflected Baum's belief of American values of freedom and independence and sympathy for the underdog. Agreeing with Farooq, gold can be harmful to a society and we should not bring the usage of gold back because it would raise the prices that are already exceedingly high. As Terry Sater states, "Those who dream, on the other hand, of a government to grant their every wish and meet their every need best seek it somewhere else — over the rainbow."

Love always and forever, Kristina Cats!

Miss. Francis said...

katz - G: thoughful but late!

Samantha said...

Terry Slater explains how each character in the Wizard of Oz represents a different aspect of the American society. "Dorothy embodied traditional American values. The cowardly lion was William Jennings Bryan, who had railed against a gold standard for the American economy. The scarecrow stood for the country's farmers and the tin man its industrial workers. The "little people" — the Munchkins of the 1939 movie version — represented the working class. The "Yellow Brick Road" symbolized the gold standard, "oz" being the abbreviation for ounce." While I was not in class for the discussion about the symbolism of the Wizard of Oz, this article put the movie into perspective and I was able to see the symbolism for populism duirng both the early 1900's as well as today's society. I agree with Tiffany in her response about being broken up into different groups,and social classes. I also agree with the columnist, Terry Slater, when he says, "Government can provide protection, some basic services and the opportunity for people to reach their fullest potential in life. The individual's responsibility is to recognize the nobility of struggle, the worth of achievement and the inherent potential within himself. Those who dream, on the other hand, of a government to grant their every wish and meet their every need best seek it somewhere else — over the rainbow."

klown27 said...

Based on my understanding of the article about “The Wizard of Oz”, it may be concluded that it did have relation to the Populist movement. Each of the characters in the book played a major role in the movement. The characters indirectly showed how life was and what was needed in society. For example, the main character, Dorothy, is just an average American trying to find her way to a good life, the Scarecrow as the country’s farmers, the Tin Man as the industrial workers, and the Cowardly Lion as William Jennings Bryan, as Ian pointed out. Ian also pointed out that the Yellow Brick Road represented the gold standard on which the movement was based, and even the name “Oz” itself is an abbreviation for gold’s unit of measurement, the ounce. The main idea at this time was to strike gold and become rich. althought this was no easy task, many people tried to gain wealth in many different ways. the gold standrd in the gilded age did pose a threat to the farmers. In the book, each individual asking for a different item can be seen as each working class' necessities in life. In todays society, we are still trying to get rich in multiple ways, although gold isnt as valuable as it was in the past.