The Mechanism of Cycles 127 



directly correlated with the deviations 

 of the yield per acre of the crops from 

 their general cyclical movement; 

 (b) When the lag in general prices and the 

 secular trend in both prices and yield 

 per acre are eliminated, the cycles of 

 general prices are very closely corre- 

 lated with the cycles of the yield per 

 acre of the crops. The coefficient of 

 correlation is r = .800. 



(8) The law of the cycles of crops is the law of the 



cycles in the activity of industry and the 

 law of the cycles of general prices. 



(9) The fundamental, persistent cause of the cycles 



in the activity of industry and of the cycles of 

 general prices is the cyclical movement in the 

 yield per acre of the crops. 



