Category: Funny Business

What is a faculty-student party without skits and songs in which popular texts are given a good burlesque once over? An even duller affair to be sure.

I am the first to admit that Economics in the Rear-View Mirror is a pretty dry boutique blog. Even my occasional attempts to liven things up are bound to fall flat for those who have not endured the rigors of graduate education in the dismal science. But in the genuine interest of preserving artifacts of graduate education in economics past, I have already included Professor William Parker’s hit parody of the hymn “Rock of Ages”, originally performed at a Yale skit party and later in 1976 at the Adam Smith Roast organized by M.I.T. graduate students of economics. This posting now adds a text (authorship unknown…any claimants out there?) from the University of Chicago. 

“A good parody is a fine amusement, capable of amusing and instructing the most sensible and polished minds; the burlesque is a miserable buffoonery which can only please the populace.” (translation from “Parodie” in Encyclopédie ou Dictionnaire raisonné des sciences, des arts et des métiers, 12:73–74 (Paris, 1765)). 

Readers may judge for themselves where this artifact falls in the spectrum running from “good parody” to “miserable buffoonery”.

Milton Friedman kept one folder in his files dedicated to humor from University of Chicago skits and student publications. The following burlesque aimed at Milton Friedman himself was considered good enough in Chicago that it was recycled at least once. Both versions in the Friedman folder are undated and I welcome blog visitors to express their opinions as to which version might have preceded the other (with explanation).

For those who don’t know the original, here is a video clip of “When I was a Lad” from the operetta H.M.S. Pinafore by Gilbert and Sullivan.

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If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

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Version 1:

MEMBER OF THE FACULTY
(to the tune of “When I was a lad” from PINAFORE)

When I was a lad I served a term
Under the tutelage of A. F. Burns.
I read my Marshall completely through
From beginning to the end and then backward, too.
I read my Marshall so carefully that now I am professor at the U. of C.
(He read his Marshall so carefully that now he is professor at the U. of C.)

I learned the philosophy of “as if”
And now everything appears relatif.
Of exegesis I obtained such a grip
That soon I was granted a fellowship.
Oh, such a good fellow you never did see, so now I am professor at the U. of C.
(Oh, such a good fellow you never did see, so now I am professor at the U. of C.)

Since products all do clearly compete
From automobiles to babies sweet,
The very existence of monopoly
I explained away as sophistry.
This sophistry is so good for me, that now I am professor at the U. of C.
(This sophistry is so good for he, that now he is professor at the U. of C.)

Of Keynesians I can make mincemeat;
Their battered arguments now line the street.
I get them in their weakest assumption,
“What do you mean by consumption function?”
They never gave an answer that satisfied me, so now I am professor at the U. of C.
(They never gave an answer that satisfied he, so now he is professor at the U. of C.)

Of laissez-faire I am the champ,
Outstanding member of the liberal camp.
With social zeal I never have burned;
With feasibility I’m not concerned.
This ivory tower so suited me, that now I am professor at the U. of C.
(This ivory tower so suited he, that now he is professor at the U. of C.)

Now students all, whoever you may be,
If you want to climb the academic tree,
Stick close to your texts and never disagree
And you all may be professors at the U. of C.
(Stick close to your texts and never disagree
And you all may be professors at the U. of C.)

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Version 2:

MEMBER OF THE FACULTY:
(to the tune of “When I was a Lad” from H.M.S. Pinafore)

When I was a lad I served a term
Under the tutelage of A. F. Burns
I studied my Marshall completely thru
From beginning to the end and then backwards too
>
I studied my Marshall so carefully that now I am professor at the U. of C.

Chorus: (He studied his Marshall so carefully that now he is professor at the U. of C.)

[4 beats]

I learned the philosophy of “AS IF”
And now everything appears relatif
Of exegesis I obtained such a grip
That soon I was granted a fellowship
>
Oh, such a good fellow you never did see, so now I am prof. at the U. of C.

Chorus: (Oh, such ….)

Since every product does compete
From an automobile to a baby sweet
The very existence of monopoly
I explain away as sophistry
>
This sophistry is so good for me that now I am teaching at the U. of C.

Chorus: (This sophistry ….)

Of Keynesians I can make mincemeat
Their battered arguments now litter the street
I hit them in their weakest assumption
“What do you mean by consumption function?”
>
They never gave an answer that satisfied me, so now I am prof. at the U. of C.

Chorus: (They never….)

Of laissez-faire I am the champ
The outstanding member of the liberal camp
With social zeal I never have burned
With feasibility I am not concerned
X>
This ivory tower so suited me that now I am professor at the U. of C.

Chorus: (This ivory ….

Now students all whoever you may be
If you want to climb the academic tree
Stick close to your texts and never disagree
And you all may be professors at the U. of C.

Chorus: (And you …)

Source: Hoover Institution Archives, Milton Friedman Papers, Box 79, Folder 6 “University of Chicago, Miscellaneous”.

Image Source: HMS Pinafore performance by the Bryn Mawr Glee Club (April 1915).