Rare Albion - The Other Monetary Allegory

In 1990, American economist, Hugh Rockoff, published his seminal paper, The Wizard of Oz as a Monetary Allegory (Journal of Political Economy Vol. 98 (August 1990), pp. 793-60), 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 Confederated States of Columbia. Here the Wizard reviews his former ways and resolves to make good his previous humbug.

He received the name Victor because victory over one's financial circumstances is the chief virtue of that special place. From there through Victor's Blog he has provided occasional commentary on business, financial and economic affairs with an imaginative thinking unusual in such matters but greatly needed.

Rare Albion – the Further Adventures of the Wizard from Oz (2005) provides an introduction to this imagined land, where economic and monetary life is conducted as if the world were a single global affair with one currency (based on accounting, but with many denominations) and where economic governance is autonomous yet mindful of political considerations.

The 2020 sequel, Rare Albion, Too – the Story of Folkstown elaborates on life in Rare Albion. Based on Folkestone, England, it also plays with my thesis concerning Keynes's 'unspoken mission', imagining how things might yet become were his ideas to prevail.