Reed wanted a new way of doing things in economics, the old methods doesn't contribute to positive changes.
think of it, a high number of the ideas of the industry or fields are more than 100 years old. Then the economics formal theory and mathematical theory are now handicapped by impractical assumptions or directly contradicted by real world data.
What do you think about economists, who study the theories of economics and brag about being vast in the study of economics, yet doesn't help or contribute sufficiently to control or stop world economic meltdown?
Every economic theory has a period and period of time to be implemented. But that doesn't mean it doesn't provide positive value. It depends on the economic system adopted according to the goals you want to build. Economists put forward theories based on observed facts so that solution after solution is born. If we don't know the history of the economic role of each country, the place we live in might not be freedom until now. The crisis is not meant to be stopped immediately, but rather to minimize the possibility. Look at the crisis period that has been experienced, we have evolved to be able to repair a broken system. In the case of practitioners, the solution will not completely disappear. The crisis arises over time, so it must be resolved gradually.