[Verse 1] The fifties and sixties were golden and bright America's workers could live the good life But then came the seventies, things fell apart High prices and joblessness breaking our hearts [Chorus] Two stories tell us why the good times died Supply-side shocks or demand-side pride Oil crisis hit or spending went too high The seventies broke our postwar stride Which theory's right? You must decide [Verse 2] Story one says it started overseas OPEC raised prices, brought us to our knees Food costs went up, productivity down External forces turned our world around [Chorus] Two stories tell us why the good times died Supply-side shocks or demand-side pride Oil crisis hit or spending went too high The seventies broke our postwar stride Which theory's right? You must decide [Verse 3] Story two points to policies at home Too much spending made inflation roam Vietnam War and Great Society too Government money made prices break through [Chorus] Two stories tell us why the good times died Supply-side shocks or demand-side pride Oil crisis hit or spending went too high The seventies broke our postwar stride Which theory's right? You must decide [Bridge] Stagflation hit like a perfect storm High unemployment became the norm While prices rose and wages stayed low The postwar dream had nowhere to go [Outro] Both stories have their evidence strong Maybe neither theory's completely wrong The seventies taught us economics can change When prosperity's path gets rearranged
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