These factors suggest that the natural world is subject to powerful forces that trigger fluctuations in various phenomena. An identical rhythm in different phenomena implies an interrelationship, or common cause. The knowledge of predictable, repetitive patterns is a valuable tool in the scientific projection of many different phenomena.
While cycles have an ancient history, the science of studying modern financial cycles began over a hundred and fifty years ago in the early 19th century. However, serious study of financial cycles did not begin until after the American stock market crash of 1929. In 1931 the Department of Commerce assigned Edward Dewey the task of discovering the cause and underlying dynamics of the Great Depression. As Chief Economic Analyst for the Department Dewey had unprecedented access to resources and information. Dewey's work on understanding the Great Depression led him to his lifelong calling in cycles. He combined his enormous research in business cycles with research from leading biologists on cycles in nature and in wildlife. Dewey was astonished to discover that:
- 1) Cycles of identical length were found in both disciplines
- 2) Similar cycles from different areas reached their peaks and troughs at the same time.