After what seemed like a bad dream, the country woke up to find themselves in the Financial Land of Oz. The housing market cratered, stocks fell, and once venerable financial institutions were on life support. The economy struggled. The Wizards provided massive fiscal and monetary intervention.
The economy recovered, but not for everyone. The social fabric began to tear. The dominant theme of the next decade will be the intersection of politics and economics. Economies naturally experience cyclic behavior though our financial system exacerbates the effect. A healthy economy and societal accord go hand in hand. We need to understand how we got here and how we will emerge.
The economy and our social fabric can recover, though our journey will require us to take a road we have traveled before but one we long ago forgot. Reliance on the Wizards will only make our country’s journey more painful. Ultimately, we have to trust ourselves. Once we pull back the curtain, we will realize we can get back home without the Wizard’s help.
Readers enjoy how E$caping Oz discusses why our crisis happened and the dangers that lie ahead. Those expecting a rescue from our “Wizards” will be placing their welfare in peril.
The story of The Wizard of Oz serves as the metaphor for where we find ourselves economically. Jim Mosquera uses this metaphor to help people understand what at times can be an intimidating subject. This could be one of the most important books you will read in the next few years. An understanding of the economic issues will be essential as economics and politics continue to intersect in the future. If you don’t understand these issues, the country will not escape the financial Land of Oz.
The economic malaise we encountered was serious but is only the beginning. Reliance on the Wizards will only make our country’s journey more painful. Ultimately, we have to trust ourselves. Once we pull back the curtain, we will realize we can get back home without the Wizard’s help.