Career courses should be able to shape the thinking and improve the problem finding ability of the people who study it. They should be able to find solutions to challenges with the principles of what they have studied and expand the solutions that they can offer far outside what has been documented in their old textbooks. The problems found in those textbooks, are problems that solution has been found for, it does not contain all the future problems like some of the problems facing the economy these days, and there is no solution for it, just principles to guide thinking to create solutions for this new problems.
Reed wanted a new way of doing things in economics, the old methods doesn't contribute to positive changes.
Some economist are masters of the theoretical, they are not good at thinking outside the boundary of what they have learnt and within the principles guiding their course to find new practical and applicable solutions, so the old methods that they know yield no positive results and are not helpful.