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Course Curriculum: 1973 as the Economic Regime Break (US • Canada • Global) · 3:59

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Lyrics

[Verse 1]
Back in forty-four when the war was ending
Nations came together with a plan worth defending
New Hampshire hosted what would change the game
Bretton Woods Conference put the dollar in the frame

[Chorus]
Bretton Woods was built for stability
Fixed exchange rates, predictability
Dollar backed by gold, that was the key
Trading flexibility for certainty
Order over chaos, that's what they could see
But every system has a price to pay, you see

[Verse 2]
Before this system currencies would swing
Wild fluctuations made trade a risky thing
Countries would devalue to gain advantage
Left the global economy in total damage

[Chorus]
Bretton Woods was built for stability
Fixed exchange rates, predictability
Dollar backed by gold, that was the key
Trading flexibility for certainty
Order over chaos, that's what they could see
But every system has a price to pay, you see

[Bridge]
What did it accomplish? Trade could flow with trust
Nations knew exchange rates, plan they really must
Reconstruction happened, Europe could rebuild
International commerce, steady foundation filled

[Verse 3]
But the trade-off came with strings attached so tight
Countries lost the power to adjust overnight
When economies struggled, rates were locked in place
No quick devaluation to help them in the race

[Final Chorus]
Bretton Woods was built for stability
Fixed exchange rates, predictability
Dollar backed by gold, that was the key
Trading flexibility for certainty
Gained the trust but lost autonomy
Every system has a price to pay, you see

[Outro]
Twenty-seven years it held the world in line
Till nineteen seventy-three, end of dollar's time

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