Indeed, there has developed a definite profession with market forecasting as its objective. Economists, statisticians, technicians, business leaders, and bankers, all have had a try at foretelling the future of prices over the New York Stock Exchange. In the first place, there is no other field in which prediction has been essayed with such great intensity and with so little result. Particular attention has been given to the stock market for two reasons. In order to best illustrate and expound this phenomenon it is necessary to take, in the field of man’s activities, some example which furnishes an abundance of reliable data and for such purpose there is nothing better than the stock exchange.
It is likewise indicated that in their intensity, these waves or impulses bear a consistent relation to one another and to the passage of time. Very extensive research in connection with what may be termed human activities indicates that practically all developments which result from our social-economic processes follow a law that causes them to repeat themselves in similar and constantly recurring serials of waves or impulses of definite number and pattern.
Furthermore, because man is subject to rhythmical procedure, calculations having to do with his activities can be projected far into the future with a justification and certainty heretofore unattainable. Human activities, while amazing in character, if approached from the rhythmical bias, contain a precise and natural answer to some of our most perplexing problems. Man is no less a natural object than the sun or the moon, and his actions, too, in their metrical occurrence, are subject to analysis. Spring plantings are witnessed the world over because summer is expected as next in order yet how many planters understand why they are afforded this constancy of the seasons? In each instance the rhythm of the particular phenomenon was mastered. Indians fix their month by each new moon, but even today cannot tell why regular intervals characterize this heavenly sign. The sun was expected to recurrently rise at a fixed time thousands of years before the cause operating to produce this result was known. After becoming thus posted, prediction was easy because it became mathematical.Įven though we may not understand the cause underlying a particular phenomenon, we can, by observation, predict that phenomenon’s recurrence. These men, as have countless more in other fields, learned the law. Marconi, after his studies in electrical transmission, predicted that sound could be conveyed without wires, and today we can sit in our homes and listen to musical and other programs from across the ocean. Halley, calculating the orbit of the 1682 comet, predicted its return which was strikingly verified in 1759. Since the very character of law is order, or constancy, it follows that all that happens will repeat and can be predicted if we know the law.Ĭolumbus, maintaining that the world was round, predicted that a westward course from Europe must eventually bring his ships to land and despite scoffers, even among his own crew, saw his prediction realized. Navigation, chemistry, aeronautics, architecture, radio transmission, surgery, music - the gamut, indeed, of art and science - all work, in dealing with things animate and things inanimate, under law because nature herself works in this way. Without law it is self-evident there would be chaos, and where chaos is, nothing is. No truth meets more general acceptance than that the universe is ruled by law.
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