[Verse 1] In nineteen seventy-three the world began to change Economic patterns that had lasted broke their range Before you ask who won or lost along the way Remember three key questions you must always say [Chorus] Who's the group and what's the time Real or nominal the climb Group plus window plus the base These three factors you must trace Who benefited from the shift Look for evidence not drift Group plus window plus the base Economic truth you'll face [Verse 2] Was it workers or the owners of the capital The timeframe matters was it short or several years And when we measure gains and losses don't forget Real buying power versus numbers we can get [Chorus] Who's the group and what's the time Real or nominal the climb Group plus window plus the base These three factors you must trace Who benefited from the shift Look for evidence not drift Group plus window plus the base Economic truth you'll face [Bridge] Seventy-three was when the golden age came crashing down Bretton Woods system crumbled to the ground Oil shocks and stagflation changed the game But who got richer who got poorer in the flames [Verse 3] If wages rose but prices rose much faster still Then workers lost despite the numbers on their bills A CEO whose stock options multiplied Might gain in real terms while the workers' wealth had died [Chorus] Who's the group and what's the time Real or nominal the climb Group plus window plus the base These three factors you must trace Who benefited from the shift Look for evidence not drift Group plus window plus the base Economic truth you'll face [Outro] So when you study any economic break Remember these three questions that you need to take The group the time the way you measure what they gained That's how real economic truth is ascertained
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