I’ve equations and functions, and marg’nalassumptions I havetricky proposals for income disposals I’ve equations and functions, and marginal assumptions They call me a Keynesian, a Keynesian economist They call me a Keynesian, a Keynesian Economist (To the tune “They call me Little Buttercup”from H.M.S. Lyric Theatre of San Jose performing “I’m Called Little Buttercup” from H.M.S. _ Parody of Gilbert and Sullivan’s “I’m Called Little Buttercup” Source: Hoover Institution Archives, Papers of Milton Friedman, Box 79, Folder 6 “University of Chicago Miscellaneous”. Rubenstein Rare Book & Manuscript Library. Our little coterie extends from here across to Manchester.īut government advisers seldom here or there with us concur.īut we’ll keep the tradition of the classical economist.īut we will bear the standard of the classical economist. Replace it with a very special U of C economist. The banking system should be based on 100% reserve. The chastity of this our land we manifestly must preserve. We find it nicer living where the air is rather raribus. In economic theory we’re wed to ceteris paribus. We find it easier living where the air is rather raribus. In economic theory we’re committed to ceteris paribus. On a U of C example of a classical economist.ĪU of C example of a classical economist.Ĭompetitive adjustment is the true course for all laborers.Ī freely fluctuating wage, all long-run benefits confers,ĭoes not come any finer than a classical economist. The economy we study is afflicted with paralyses. Our tools are based on static equilibrium analyses. I am the very model of a classical economist.Ī U of C example of a classical economist. I AM THE VERY MODEL OF A U OF C ECONOMIST (To the tune of “I am the very model of a modern Major General” from THE PIRATES OF PENZANCE) To enjoy the original work being parodied:Įnglish National Opera: Major-General’s Song from The Pirates of Penzance– live and with lyrics! I AM THE VERY MODEL OF A CLASSICAL ECONOMIST _ Parody of Gilbert and Sullivan’s “I am the very model of a modern Major General” My personal favorite line: “In economic theory we’re wed to ceteris paribus./We find it nicer living where the air is rather raribus.” The versions found in Milton Friedman’s papers seem to me to read better than those found in Albert Rees’ papers which leads me to conclude that the versions from the Friedman papers are of more recent vintage.Īuthorship is unknown, but there can be no doubt that we are dealing with lyrics composed, performed, and (first) enjoyed by economists at the University of Chicago sometime in the first two decades after WWII (when Rees was at the University of Chicago). The only honorable thing to do was to post both versions side-by-side and highlight their differences. Then to my horror (I really wanted this to be a quick-and-easy posting), I discovered that the two versions are not quite identical (recycling!). In an act of unpremeditated scholarship I glanced at what I had believed to be identical copies of the same stuff in Milton Friedman’s papers. This evening I thought I would treat myself to a quick-and-easy posting of the lyrics of two songs taken from the nine pages stapled together of University of Chicago skits that I found in Albert Rees’ papers at Duke. Transcriptions of such masterpieces previously posted in Economics in the Rear-view Mirror include: FIRST EPISTLE UNTO NEW STUDENTS, WHEN I WAS A LAD, COWLES COMMISSION SONG, and SONG FOR AN ENTREPRENEUR. Annual Christmas parties, skit parties and picnics (less so) are occasions when economists attempt to write comedy and some popular or familiar song or text gets reworked into a bit of burlesque humor. Every so often the tiny cultural studies scholar inside my economist body says it is time to post another artifact from the social life of an economics department.
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