I think it might be heresy to say that this version is better than the original. It is different. The song -- Leon Rosselson's The World Turned Upside Down, from as late as 1975 -- was an instant favorite of mine from my first hearing of it.
While you might not know Rosselson's name, you surely know of a project in which he was involved that spawned a similar one in the US: Rosselson wrote satirical songs for the original British show, "That Was the Week That Was," which began just after the Profumo scandal broke. The host David Frost brought the show to America during the heady times that we thought were "the early days of a better nation," to quote another song.
Although I love Rosselson's own version, his voice and guitar playing aren't strong. Dick Gaughan does a magnificent version and Billy Bragg has also covered it (haven't heard his version). Gaughan and Rosselson sing it as a ballad. The Oysterband returns to their roots and do it as a dance number.*
http://www.youtube.com/watch?v=iPb6J45CISM
Speaking of oysterband, I put together a Pandora account a long time ago and established one station, Christie Moore. Then I didn't return. I'm going to see Bruce Cockburn (finally) a week from today and had a hunger for his music. I turned to Pandora rather than youtube. I like Pandora but the software provides you not just with songs from the artist you seek but with "similar" artists. Some of them are just not similar enough. When I tired of Pandora's Cockburn clones, I started a new station for the oysters. The first number up was an oysterband cover of a Cockburn song. I had no idea they covered him.
So while we're at it, why don't I give you Gaughan's version. If he looks impossibly young, it is because this a BBC presentation from 1982. His guitar is powerful and so is his very Scots voice.
http://www.youtube.com/watch?v=XWzzvnPOyTM