Back in 1934 two budding economists wondered, as others had before them, if sunspots affected agricultural production and thus food prices. When they studied sunspots they found that their wax & wane apparently bore no relation to the rise or fall of agricultural production. But they were amazed to find that sunspot activity coincided with the rise & fall of industrial production and of stockmarket prices.
Such startling coincidences—or, as some firmly believe, "causes"—have given rise to a new quasi-economic science which smacks of witchcraft, astrology and old-fashioned predestination. Biologists, astronomers,...
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