10.10.16-Knight PIC 3.jpg

Babson Compositplot of American Business Conditions (1921), Roger W. Babson, Business Barometers Used in the Accumulation of Money (Wellesley Hills, MA: Babson Institute, 1921), inset after p. 106. The business statistician and forecaster Roger Babson began to produce his charts of “American business conditions” in the early 1900s. His fundamental assumption was that stock prices were governed by a force akin to gravity, and that a period of boom would be matched by a corresponding period of bust. Courtesy Harvard College Library.