Follow the Change.

Follow the Change is one framework we use to examine how a shift moves through the economy and affects markets, industries, and businesses.

CHANGE

Identify the underlying shift and establish what is

actually changing. This may originate in economics,

technology, policy, trade, infrastructure, market

structure, or capital flows.

Change

Identify the underlying shift and establish what is actually changing. This may originate in economics, technology, policy, trade, infrastructure, market structure, or capital flows.

TRANSMISSION

Trace how the change moves through the real economy.

We examine the channels through which its effects

spread, including costs, incentives, supply chains,

demand, regulation, financing, and competition.

CONSEQUENCE

Determine who and what is affected, including both

first-order and second-order effects across industries,

businesses, assets, and markets.

OPPORTUNITY

Assess where those consequences may create investment

or commercial opportunity, and what would need to be

true for that opportunity to matter.

Transmission

Trace how the change moves through the real economy. We examine the channels through which its effects spread, including costs, incentives, supply chains, demand, regulation, financing, and competition.

Consequence

Determine who and what is affected, including both first-order and second order effects across industries, businesses, assets, and markets.

Opportunity

Assess where those consequences may create investment or commercial opportunity, and what would need to be true for that opportunity to matter.