Covid-19 is causing a severe recession after an economic boom built upon a foundation left shaky by the Great Recession. Similarly, did the influenza pandemic of WW1 lay the groundwork for the Great Depression after the even-shakier Roarin’ 20s boom? What’s next now? And what can we learn?
Was the “Spanish flu,” a disease pandemic whose awful memory was shoved aside by the Roaring 20s, a so-called Invisible Hand? A negative, indeed a “dead” invisible hand of capitalism at that? What lessons are relevant for us today as the new coronavirus recession arrives so soon after the Great Recession? If history does tend to repeat itself, then it helps to remember what’s often forgotten.