As far as I am concerned, the catalyst for the show is connected with Edgar Cayce and his predictions about Atlantis. There is much evidence available on this, and I am going to point out the major similarities I have found here so far. I know Atlantis has been discussed many times, but I haven't yet found a discussion based on Edgar Cayce - and how his readings almost completely prove the idea for LOST was borrowed from them. Here are a few interesting similarities:
Similarity #1: Let's start with Edgar Cayce. He was known as the "Sleeping Prophet" and he gave readings about Atlantis from 1922 until his death in 1945. In his trance states he spoke of Atlantis as where man first developed civilization. This seems to blend well with ancient qualities of the show- the Egyptian references, statue, hieroglyphs, "Adam & Eve" found in the cave, etc.
Similarity #2: Cayce mentioned that Atlantis was a vast super civilization with electromagnetic powered flying machines, lasers, power crystals, and devices which we cannot even understand. The source of the energy was called "The Great Crystal", which the Atlanteans built. The energy was used for various purposes. In the beginning it was used as purely a spiritual tool by initiates who could handle the great energy. They used the crystal to rejuvenate their bodies and were able to live hundreds of years while maintaining a youthful appearance. Sound familiar?
Similarity #3: Remember when Hurley was shown drawing the Egyptian Sphinx? Cayce prophesied the Sphinx had been built in 10,500 BC and that survivors of Atlantis had concealed beneath it a "Hall of Records" containing all the wisdom of their lost civilization and the true history of the human race.
Similarity #4: In the Bermuda Triangle, on the ocean bottom where the ruins of Atlantis now are to exist (as Cayce believed), the energy build-up in the sunken and damaged Fire Crystals that composed the "Great Crystal" can periodically trigger materialization of anything. Many people (in real life) have reported seeing portals opening in cloudy skies - strange swirling lights sometimes accompanied by sounds - temporal distortions - electromagnetic distortions called 'electronic fog' that can cause a time storm, and the disappearance of planes and ships. There is something about this fog that is important and gives one the sense of all things paranormal. Something unexplained is definitely happening in that region of the Atlantic. This goes back to ancient explorers such as Christopher Columbus and his crew who experienced the phenomenon. (As written on http://www.crystalinks.com/bermuda_triangle.html)
Similarity #5: According to Cayce, Atlantean society was divided into two long-lived political factions - a "good" faction called the "Sons of the Law of One," and an "evil" faction called the "Sons of Belial." Jacob / Man in Black? Fate VS. Free Will? Fate (Man in Black) seems "evil" whereas "free will" (Jacob) seems benevolent / fair.
Similarity #6: Cayce believed in reincarnation and gave thousands of readings about it during his lifetime. From Cayce's perspective, the reason for believing in reincarnation is not so that we can dwell upon the past or brag about the possibility of once having been someone famous, instead it is to enable a soul to understand the consequences of previous choices and to know that each individual is ultimately responsible for shaping and creating his or her life in the present. From Cayce's perspective, the past merely provided a framework of potentials and probabilities. An individual¹s choices, actions, and free will in the present would determine the actual experience lived this time around. Rather than being a fatalistic approach to life, it is much more one of nearly limitless opportunities. This sounds like Jacob's views on mankind, does it not?" Recall the opening scene of the Season 5 Finale- Man in Black says, "They come, fight, destroy, corrupt, it always ends the! same" (Fate). Jacob then says, "It only ends once. Anything before that is just progress" (Free will).
Similaritiy #7: The Cayce readings affirm the existence of Atlantis, a vast continent with an advanced technology whose refugees peopled ancient Egypt.
Similarity #8: Cayce's main areas of interest sound very similar to The Dharma Initiative's apparent areas of interest: Meditation, ESP, dreams ("God may speak to us through dreams"), healing and reincarnation.
Similiarity #9: Cayce mentions that Atlantis sank to the ocean floor after the electromagnetic powers became too strong and were abused, eventually sinking the island. Opening scene of "LA X" shows the island underwater apparently after the electromagnetic source was tampered with.