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Dmitri Kondratiev has given his name to business cycles. We call the ups and downs "Kondratiev Waves." Other economists have studied the field but Kondratiev made it his career and paid for his dedication with his life, landing on one of Stalin's many lists as individuals to be executed, in his case in the year 1938.

The existence of the business cycle is interwoven with the lives of the Doran family. Robinson Doran has retired from a professorship in economics and in a precipitous fashion moves to the country to take up farming. He believes that life as we have known it is coming to an...