In this lecture at Yale University on the work of Roman Jakobson, Professor Paul Fry continues his discussion of synchrony and diachrony. The relationships among formalism, semiotics, and linguistics are explored. Claude Levi-Strauss’s structural interpretation of the Oedipus myth is discussed in some detail. In order to differentiate Jakobson’s poetic functions, Professor Fry analyzes the sentence “It is raining” from six perspectives. Significant attention is paid to the use of diagrams in literary linguistic theory.