Economic crisis Quote by Yuval Noah Harari
““Everybody is terrified that the current economic crisis may stop the growth of the economy. So they are creating trillions of dollars, euros and yen out of thin air, pumping cheap credit into the system, and hoping that the scientists, technicians and engineers will manage to come up with something really big, before the bubble bursts. Everything depends on the people in the labs. New discoveries in fields such as biotechnology and nanotechnology could create entire new industries, whose profits could back the trillions of make-believe money that the banks and governments have created since 2008. If the labs do not fulfil these expectations before the bubble bursts, we are heading towards very rough times. Columbus””
About This Quote
Source Speech: Public talk on economic policy, 2023
Societies rely on speculative monetary expansion and hope that scientific breakthroughs will sustain growth, but this creates a fragile bubble that may burst if labs fail to deliver.
In simple terms: We gamble on science to justify endless money printing.
Key Takeaway
Invest in real innovation, not just credit.
Themes
economics
technology
risk
innovation
policy
Mood
anxious
hopeful
Type
warning
analytical
When to use this quote
- government budgeting
- venture capital
- R&D funding
- startup strategy
- public policy
Key Concepts
macroeconomics
speculative finance
scientific progress
Questions to Reflect On
- What contingency plans exist if labs underperform?
- How can we balance short‑term stimulus with long‑term sustainability?
A Different Perspective
If breakthroughs are slower than expected, debt and inflation could spiral.
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