And of course the older things are the better they are. For example, we all now 1000 year old medical practices are good and effective whereas recently developed ones suck.
... why would it be true for economic practices? Some experimentation is good, without it there would never be any progress at all.
Appeal to authority based on the age of ideas is something you can only get away with in religion, astrology, and it seems, economic 'science'.
Sure, there is a large chance that new ideas might fail but you can't simply argue against them because they go against old ideas.
... why would it be true for economic practices? Some experimentation is good, without it there would never be any progress at all.
Appeal to authority based on the age of ideas is something you can only get away with in religion, astrology, and it seems, economic 'science'.
Sure, there is a large chance that new ideas might fail but you can't simply argue against them because they go against old ideas.