The whole story is a satire of the corruption in the businesses and corporations of America in the late 1800's. The Scarecrow represents the western farmers with no brains, the tin man represents the eastern industrial workers who worked in the factories with no heart, and the lions represent the congressmen with no courage to stand up against the corporations. The yellow brick road represents the gold standard, and the munchkins are the average citizen.
They used to let this scene be embedded but now no longer which is interesting as I have a hunch that a great unveiling is imminent. I cut and paste the above comment as it's better than anything I could have written.