It really is going to be a movie and how I know is because it is now up on the IMDb website. The movie is, of course, Waffle Street and this is the plot line as described:
Waffle Street’s riches-to-rags tale is an adaptation of James Adams’ 2010 memoir of the same name (published by Sourced Media Books), which chronicles the financier’s foray into the food industry. After being laid off at the hedge fund where he worked, and further jaded by his culpability in the crisis, Adams chose to work at a popular 24-hour diner where he claims “most of his financial knowledge has been gleaned.” Offering a fresh take on the fallout of corporate greed, Adams’ is a tale of the redemption and unlikely friendship found under the tutelage of Glover’s character Edward, the best short-order cook in town.
My own way of thinking about it, however, is how a bond trader at the top of the income tree is felled by the GFC and finds himself a few weeks later as the night manager of a Waffle House. He therefore enters a world that until then had only been seen at a distance but is now his daily presence. Part of what he learns is the up-close reality behind the kinds of things that are taught in economics and finance courses – things such as Say’s Law – discovering their deeper meaning by seeing them as an inseparable part of the way in which the world works. But the most astonishing lesson is embodied in the person of Edward Collins, an ex-convict who has found his own productive meaning in life by becoming not just a Waffle House cook but a moral philosopher. It is Jean Valjean again except rather than Collins being a character from a novel, he is someone from real life.
The story is exceptional, but a movie is not a book. They have the makings for the film of the year but we shall see. Release date is 2015 so it’s not long to go. I’ll let you know how well it’s been done right after the premier.
And then this: The liberty quote of the moment was this, very appropriate I thought:
The fallacies implied in the Keynesian full-employment doctrine are, in a new attire, essentially the same errors which Smith and Say long since demolished.
— Ludwig von Mises
It is true that in 1814 and 1914 these were ideas in the dustbin of history. As for 2014, they are alive and while a bit under the weather, still doing OK.