The Symbolism in this classic story is rich, and the issue that are dealt with are arguably very much in line with the monetary policy issues we have today, those issues were the genesis of our issues (although gold has come full circle) Read More here:
In 1964 Historian Henry Littlefield outlined an allegory in the book of the late 19th Century debate regarding monetary policy with the "Yellow Brick Road" representing the gold standard and the silver slippers (Ruby in the 1939 film version) representing the silver standard. Read more at the link above.
The Yellow Brick Road: The Gold Standard
The Silver (Later Ruby) Slippers: The Silver Standard
The Wicked Witch of the West and East: Capitalism and Communism
The Tin Man: American Industry
The Scarecrow: American Farmers
The Cowardly Lion: https://en.wikipedia.org/wiki/William_Jennings_Bryan
Oz: The West
The Wizard: The Bankers
The Winged Monkeys imprisoned by the witch: The Local American Indigenous people.