Elvis Costello reminds us this song was written by Nick Lowe in 1974,

What’s so funny about Peace Love & Understanding?

As I walk through

This wicked world

Searchin’ for light in the darkness of insanity.

I ask myself

Is all hope lost?

Is there only pain and hatred, and misery?

And each time I feel like this inside,

There’s one thing I wanna know:

What’s so funny ’bout peace love & understanding?

Here Costello sings it with Bob Dylan, Zooey Deschanel, and Jenny Lewis:

-jsq