Bankruptcies play the same role in economic progress that falsifiability plays in the progress of ideas.

FORBES: Magazine Article

In science, falsifiability means that a hypothesis is presented with sufficient rigor to be proven wrong, that is, falsified.

FORBES: The Confidence Game

The answer comes from the eminent philosopher of science Karl Popper: falsifiability.

FORBES: The Confidence Game

Namely that bad ideas never really die, they just skirt falsifiability.

FORBES: Taxes On "Fatty Foods", And Their Unintended Consequences

Entrepreneurs are trustworthy because they accept a moral code of testability and falsifiability rather than one based on sentiment, sanctimony, good intentions, good press, good luck, good looks or guarantees.

FORBES: Magazine Article