•Why it earns a slot
Published in 1900 as a deliberate break from the grim European fairy-tale tradition, the novel invented a distinctly American fantasy world and introduced the enduring idea that the qualities we most desire are ones we already carry within us.
A Kansas farm girl named Dorothy is swept by a cyclone to the magical Land of Oz, where she accidentally kills the Wicked Witch of the East and sets off down a yellow brick road to find the Wizard Oz, hoping he can send her home. Along the way she befriends a Scarecrow seeking brains, a Tin Woodman seeking a heart, and a Cowardly Lion seeking courage. After the group defeats the Wicked Witch of the West, they discover Oz is a fraud, and Dorothy ultimately learns her silver shoes always had the power to carry her home.
This distillation is written from the freely available original, which is always the better read when you have the time: gutenberg.org.