i normally take one of those two at the start and pick a military idea as the second option, i like the innovative bonuses (especially - war exhaustion). just curious on other players views on them.
Both are viable, with playstyle needing adjustment.
Economy is better if you want to go for colonies, as ultimatedly the biggest limitation for those is cash. Economy gives more money, so... In particular, cheaper manufactories and special buildings are awesome, making building lots of these much easier.
On the other hand if you want to fight more wars the Innovative is better, as MP savings allow for more stability (less unrest), more coring, more Diplo points to use on vassals to annex. Obviously less army tradition decay makes it even more war oriented.