Greed and Capitalism

What kind of society isn't structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system.
- Milton Friedman

Thursday, October 20, 2011

The Ballad of Diamond Jim - YouTube

The Ballad of Diamond Jim - YouTube: ""





Our favorite country-western money manager, Harvard-trained Nashville econo-crooner Merle Hazard, has collaborated with brilliant lyricist Marcy Shaffer to produce his slickest video to date: the tuneful tale of a would-be banker who travels to Charlotte, N.C., to meet up with a mogul of modern-day finance, "Diamond Jim."

Above is the video, "The Ballad of Diamond Jim," uninterrupted (the song's lyrics are at the end of this post), followed below by the "annotated version," in which noted bank skeptic and MIT economist Simon Johnson, late of the IMF, explains the story behind the story of Diamond Jim, and the politics and economics behind his - spoiler alert! - triumphant exit from the song.


by MerleHazard on Oct 17, 2011

A western-style ballad about banking regulation. A creative joint venture of Merle Hazard & Marcy Shaffer. More songs at http://merlehazard.com andhttp://versusplus.com. Visit Merle at Facebook, too.

Don't miss former IMF chief economist Simon Johnson discussing this song with Paul Solman, economics correspondent for the PBS NewsHour, in a related YouTube video titled "The Ballad of Diamond Jim: Annotated," athttp://youtu.be/VVU800VjJXw
and there is more on it from Paul, and Merle, at this link,
http://www.pbs.org/newshour/businessdesk/2011/10/the-ballad-of-a-would-be-too...

Song by Merle Hazard, Marcy Shaffer (http://versusplus.com) and Curtis Threadneedle (http://www.facebook.com/pages/Curtis-Threadneedle/125638647492746).








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