Why isn’t this common sense?

Thoughts on reasoning versus trial and error:

This insistence on finding optimal theories a priori through reasoning is, in my belief, antithetical to actual progress in most areas.  The world is a messy, complex place, and in general it is far better to go try something out, from which you can learn, and which can always be revised, than to sit around trying to perfect it and convince other people of its perfection.  While I am not much of a scholar on Austrian economics, my understanding is that Hayek saw part of the advantage of a free market as allowing decentralized learning through experimentation.

And this is why I favor markets for huge problems like governments and banking which currently face poor incentives and undergo little learning. There is no need to figure out a priori which system is the best.

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