In The Wonderful Wizard of Oz and his other books about the Land of \(\mathrm{Oz}, \mathrm{L}\). Frank Baum observed that if people's wants were limited enough, most goods would not be scarce. According to Baum, this was the case in Oz: There were no poor people in the Land of \(\mathrm{Oz}\), because there was no such thing as money.... Each person was given freely by his neighbors whatever he required for his use, which is as much as anyone may reasonably desire. Some tilled the lands and raised great crops of grain, which was divided equally among the whole population, so that all had enough. There were many tailors and dressmakers and shoemakers and the like, who made things that any who desired them might wear. Likewise there were jewelers who made ornaments for the person, which pleased and beautified the people, and these ornaments also were free to those who asked for them. Each man and woman, no matter what he or she produced for the good of the community, was supplied by the neighbors with food and clothing and a house and furniture and ornaments and games. If by chance the supply ever ran short, more was taken from the great storehouses of the Ruler, which were afterward filled up again when there was more of any article than people needed.... You will know, by what I have told you here, that the Land of Oz was a remarkable country. I do not suppose such an arrangement would be practical with us. Briefly explain whether you agree with Baum that the economic system in Oz wouldn't work in the contemporary United States.

Step by step solution

01

Understand Baum’s economic system

Reading carefully through the passage, one can understand how Baum's economic system works. In the Land of Oz, people’s wants are limited, goods are not scarce, everyone is given freely by their neighbours what they require for their use, and everything is divided equally among the population.

02

Understand the contemporary United States economic system

Secondly, one needs to have a basic understanding of how the present economic system works in the United States. The U.S operates on a mixed-market economy, where most decisions are made by the market (suppliers and consumers' demand), but the government also plays a significant role.

03

Comparison

Finally, it's time for comparison. Is the unlimited supply of all resources, equal distribution, and free availability of goods, observed in Baum's Land of Oz, practical in the United States? One can argue by considering factors like population, resources availability, government policies, citizens' lifestyle, and consumption habits.

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