ABSTRACT
Relying on the works of Karl Popper, this chapter introduces the trial and error approach that shapes progress not only in science but also in all kinds of practical tasks, such as in programing. It argues that fields where there is instant true feedback can achieve much faster (scientific) progress than fields where there is slow and mostly false feedback. If a task produces a true account of how each trial relates to its outcome, it will enable fast progress, as one obtains exact information about how to improve the trials. In economics, in contrast, one cannot rely on such precise accounts of why a trial (i.e., an empirical test) has succeeded or not. This uncertainty in the obtained empirical answers hinders the systematic accumulation of knowledge, as it does not give back exact information about how to improve theories, and, consequently, where exactly researchers are standing in their inquiries.
