Is it Magic; or is it Magick?
I think the latter is the correct way, even though the latter version is listed in some dictionaries. Why is that?
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Magic, as in a general supernatural or supernatural-seeming force such as that occasionally claimed by illusionists and is popular in fantasy literature, is spelled without the K.
Magick, with a K, is an intentional variant that specifically refers to ritual prayers as practiced by various neo-pagan religions. While some of these persons sincerely believe their prayers are equivalent to the supernatural abilities of fairy-tale witches, the spelling is an intentional deviation to separate the practice from slight-of-hand and illusion.
Arguably, the word 'Magick' was first associated with the medieval occultist, Heinreich Cornelius Agrippa. However, it was popularized in the 20th century by the infamous British occultist, Aleister Crowlely, who defined it as "the Science and Art of causing Change to occur in conformity with Will".