Economics in its current form cannot succeed as it purports symmetry where none exists. For nature’s entropy dictates asymmetry, the irreversible decline of available energy. And one should not expect a practice speculating on symmetry to trace nature’s asymmetry accurately. The two are incompatible.
Economics systemically confounds consequence and cause leading to grave depravity of reason, which I have written about often. But economics is not why we humans do not tap into the expanding fractal of human ingenuity and capacity. Very few of us pay real attention to economics. Economics does not “rule” or matter to businesses. A study of hindsight cannot extrapolate to foresight that breaks the norm and thus remains a rebel without a cause.
The bigger problem we humans face is that we have failed to define and implement a human theory according to nature’s first-principles. A theory that must then be embedded in a system converting a selection of input into the desired output.