Another thought-provoking article from Theodore Dalrymple addressing the economic consequences of the Wuhan coronavirus is available at Law & Liberty.
One should never underestimate the power of amnesia in human affairs. Even catastrophes on a vast scale are often soon forgotten, at least by those who were not directly affected by them. The young in Eastern Europe, it is said, know nothing of the ravages of communism, though they lasted decades and still exert an influence, and quite a lot think that socialism might be a good thing to try, as if it had never been tried before. Moreover, no memory exerts a salutary effect by itself unaided by thought and reflection: memory (even where accurate) has to be interpreted, and where there is interpretation there is the possibility of error and disagreement.