Another thing I should add is some context of when the song was released. In the early 1980's, the economy in many places was tanking. We were in a deep recession at the time. Part of the problem was that businesses were going computer and laying off people because with a computer, more can be done with fewer people. ELO was saying this rough spot we were in was temporary and don't give up your dreams. Also, if you've ever wondered, the French verse is just a French translation of the first verse.
Another thing I should add is some context of when the song was released. In the early 1980's, the economy in many places was tanking. We were in a deep recession at the time. Part of the problem was that businesses were going computer and laying off people because with a computer, more can be done with fewer people. ELO was saying this rough spot we were in was temporary and don't give up your dreams. Also, if you've ever wondered, the French verse is just a French translation of the first verse.