Being wrong and paying for your mistakes is very much human. Nobody is infallible. Even Ray Dalio made mistakes, and these mistakes cost him and his investors millions of dollars. We call this having skin in the game. He eventually learned because of his mistakes and became an even better investor.

But academics don't pay for their mistakes. They get promoted and publish books. They don't learn, instead they leech off the taxpayer and essentially fail upwards. Why? No skin in the game = no incentive to learn and adapt. It's fiat science.