[Why economics needs economic history]: Not quite. Hindsight is a horrible prognosticator to foresight, in the world of innovation. Rule #1 in upstream innovation. The new replaces the old, the rules will be rewritten. I should know as an entrepreneur. And the dogmas of classical economics are not only flawed, but fundamentally destructive to our "rules of the house". Our economics need to be rewritten. Read my blog at venturecompany So, the innovation of economics requires a fresh look, not simply to theorize why we build the systems of the past. But more importantly: if we were born anew today, how would we build them. It is the latter question we owe to our kids an ironclad explanation, and explains why our future must be so fundamentally different than our past. Only during a phased implementation of the new can we not completely ignore the economic walled gardens of the past, and do we need to be sensitive to the practicality of a smooth transition, but not in the establishment and reinvention of our new economic destination, I have named Renewable Economics. But I understand why many may want to hold on to the past, perhaps to keep perpetuating an outdated economic religion they have been such staunch proponents of. Change is hard, and death of our current economics is the only way to ensure we can renew ourselves in cadence with, and in support of the renewable evolution of nature.
Posted on: Thu, 08 Aug 2013 14:19:54 +0000
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