Rare Albion – A Monetary Allegory

In 1990, American economist, Hugh Rockoff, published a paper, The Wizard of Oz as a Monetary Allegory, in which he explored the monetary meaning of Frank Baum’s famous story. Rare Albion takes this idea further, following the Wizard as he leaves in his balloon and journeys we know not where ...until he arrives in Rare Albion, the island capital of an imagined land just beyond our normal awareness called the Federated States of Columbia. Here the Wizard reviews his former ways and resolves to make good his previous humbug...

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Scenes from Rare Albion

The Beginning        
The Flight over the Twentieth Century  
An Enlightened Prince 
The Confederated States of Columbia
On seeing a Vertical Horizon
An Island called Rare Albion 
The Meeting with John and Mary 
“Humbug is not allowed here.” 
The Twin Banks 
Yellow and Blue Money
Resolving to go to La Fenestra
The Visit to Broken Casino
Going South
The Third Way. Not. 
The Green-Graveled Road 
Meeting the Red Rider 
A Place called Comeforth 
Entering the Castle
The Chambers of Will
The Rooms of Reminding 
The Trial Corridor
The Drama 
The Court 
The Crest 
The Monetary Committee 
The Tasks of the Secretaries 
A Monetary Commentary 
How the Committee worked
And then...