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The credit is an economic demonstration of trust. Today, if I want to develop new medicine, nothing prevents to take me a loan in bank or to address private investors and venture funds.

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This vicious circle was broken off by the increasing belief in the future and the credit miracle generated by it.

When in the Western Africa Ebola epidemic burst in summer of 2014 what, in your opinion, happened to stocks of the pharmaceutical companies which were engaged in search of the medicines and vaccines capable to overcome it? They flew up to heaven. Stocks of the Tekmira company rose 50 percent, the stocks BioCryst - everything 90. In the Middle Ages the outbreak of plague forced people to address the sky and to beg God to forgive them them sins.

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When rather large number of venture projects is successful, the belief of people in the future gets stronger, crediting gains scope, interest rates fall, access for businessmen to money becomes easier - as a result the economy grows. As a result of it people believe in the future even more, the economy continues to grow, and together with it the science progresses.

Why banks began to issue willingly big unsecured credits cash?

Today when people hear about new terrible epidemic, they reach for mobile phones and call the brokers. For stock exchange even epidemic is an opportunity to earn.

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If in 1000 AD 100 peasants grew up 100 tons of grain, and in 1100 105 peasants grew up 107 tons of grain, then such growth did not change either a rhythm of life, or the sociopolitical device. Today all are mad about growth, and during a preindustrial era people did not pay attention to it. Governors, priests and grain-growers believed that human productivity reached stable and extreme sizes that the only way of enrichment - at the expense of others and that their grandsons will live the same as they are. This stagnation in many respects was explained by difficulties with financial security of new projects. Without sufficient financing it is difficult to drain swamps, to build bridges and to build seaports - creating new grades of wheat, to open new power sources and to lay new trade ways. There was not enough finance because those days there was no credit in the course. Why? Because people did not think of growth and did not trust in a possibility of growth. But they did not trust in a possibility of growth because in economy there was a stagnation. That is stagnation reproduced itself.

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Present that you live in the medieval town which is annually suffering from the outbreaks of dysentery. You decide to create medicine. You need means to open laboratory, to buy medicative herbs and exotic chemicals, to pay assistants and to go behind council to the famous doctors. Means are necessary also to support itself and family while you are engaged in researches. But money at you insufficiently. It is possible to go to the local baker, the miller or the smith and to ask them to provide within several years you to all necessary, having promised that as soon as you invent medicine and you will grow rich then you will pay off with debts.

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The modern pursuit of the power is supported by alliance of scientific progress and economic growth. Throughout almost all history the science moved forward with a speed of a snail while the economy was in deep stagnation. Of course, together with growth of the population also production gradually grew, and separate opening even led sometimes to increase in income per capita, but it was very much also very slow process.

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