Mr B’s Lounge, located at 4300 Washington Avenue in a building that formerly housed the Bank of New Orleans, is one of the city’s few black-owned clubs that regularly presents the blues. “If you think you need a gun to come to Mr. B’s,” says a sign on the front door, “Mr. B don’t need your business.” Otherwise, the youthful 64 year-old Mr. B is the epitome of congeniality. On a recent afternoon, Mr. B gave us the lowdown on blues and capitalism.

My biological name is Hezzie B. Will...