Ralph Nelson Elliott (1871 – 1948) Who was a professional accountant, discovered the underlying social principles and developed the theory in the 1930s. This theory was later published in the book “The Wave Principle” in 1938. He also summarized his theoretical ideas in a series of articles in the Financial World magazine during 1939. His final and major work was Nature’s Laws: The Secret of the Universe in 1946 before he passed away just two years later.