Question

explain why economists say "change begets change". why is it necessary to understand this concept?

Answer 1

ANS: "Change begets change" is a famous quote by Bill Drayton. This quote is mostly used by the economist in the perspective of growth and innovation. according to them if we are looking for growth then the growth will only be achieved by bringing some kind of changes or modification. Now this modification or the change in the planning, technique, process, or model will enhance the output and efficiency.

IF we will project this quote as a concept in economics then it may be the base for all activities happen in any theory. As we know economics is an activity related to any area concern with development, growth, profit, welfare so this quote is the base for it. any short of changes can bring changes. if there is no change then we can't expect any changes. so economics always looking for a positive changes to achieve our goal.so to start any economic concept to is better to understand what types of changes are required and how it can be achieved.