As in laws of nature, laws of economics cannot be made or legislated; they can only be discovered, and this requires a keen sense of observation, study, and logic.
"Old economic thinking" is old for a reason: it's been proven over and over to be true. New economic thinking won't necessarily replace the old, but rather present a paradigm shift which still needs to he proven true. "New economic thinking" which can't do that is equivalent to outdated forms of thinking such as Earth being the center of the solar system.
One example is the movement to "cacnel student loan debt" incurred by today's holders of student loans. Student loan debt will be paid one way or another; left unsaid is who will assume that debt burden. The student only hears that he/she won't have to pay for it out of pocket anymore. Sadly, many student loans originate as funding by taxpayers, and taxpayers will remain on the hook to pay down the student loan debt. As a result, "student loan debt" doesn't get cancelled but rather shifted or redistributed. Then it's revealed to be the Ponzi scheme it always was.
The Law of Supply and Demand is one of the most basic laws of economics. Another is known by the letters TINSTAAFL: There is no such thing as a free lunch. Any "new economic thinking" which ignores these laws of economics is suspect.
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There is definitely space for changing economic policy and it is well needed. For example, when most of the policies were created, there weren't globalized companies that can generate massive volumes on service and products that don't require a large workforce and then, pay their taxes in a different location than it was earned. It is a massive issue, but none seem interested in shifting the policies required to counter it.
Debt is another one obviously, where "forgiving the debt" doesn't magically make it go away. That money has to still be found from somewhere, and they always find it, no matter the cost to those who have to pay.