Edward Russell Dewey (1895-1978) was a Harvard economist who had identified a number of cycles in the U.S. economy.
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:
Cycles of identical length were found in both disciplines and similar cycles from different areas reached their peaks and troughs at the same time.
- In 1940, Edward R. Dewey learned of a 1931 Canadian conference on biological cycles. Under the guidance of Dewey and the conference leader, Copley Amory, the conference’s Permanent Committee was reorganized into the Foundation for the Study of Cycles, and its scope was enlarged to encompass all disciplines.
- Edward R. Dewey wrote in 1967 – "Cycles are meaningful, and all science that has been developed in the absence of cycle knowledge is inadequate and partial. …any theory of economics, sociology, history, medicine, or climatology that ignores non-chance rhythms is as manifestly incomplete as medicine was before the discovery of germs."