When comparing economic history with the Wizard of Oz, I thought this essay had a lot of interesting potential. This paragraph was my first stumbling block:
The gold standard is a monetary policy linking a currency’s value to that of gold, ensuring the amount of money in circulation can’t grow too fast. This system, no longer active today, put farmers like the Gales at a severe disadvantage because the shrunken money supply drove down the prices of their crops. And since they borrowed money each fall to plant their annual harvest, farmers were forced to grow cash crops just to repay their debts — only further deteriorating the soil they relied on. This vicious cycle has surprising resemblance to today’s internet. We’ll get to that — just a little more history first.
As someone who has taken a few economics courses and read history, this paragraph made no senses to me. But the way it is written, whatever concepts are within this piece are easily understood. Maybe I need more education, but I fear you will lose a lot more Medium than I.
I really liked the allusions from Oz, but I really couldn't make the connections to historical economics.
About a third of the way, I gave up trying to read this document. The concept has potential, but it needs a lot more work to be effective.