R.N. Elliott's announcement of his discovery of the Wave Principle sixty years ago was a major breakthrough in sociology. To summarize Elliott's achievements, he discovered that the stock market displays fractal geometry, he discovered and described the component patterns and how they link together, he recognized (with the help of Charles Collins) the basis of the patterns in Fibonacci mathematics, and he concluded from all this evidence that human social progress regulates itself according to natural laws of growth and expansion that are found throughout the universe. As Robert Prechter explains herein, this simple yet profound formulation reveals that, on the whole, the endogenous ebb and flow of social mood that propels mankind's progress follows a robust fractal and spiral design that closely resembles the development of all kinds of living forms.