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Concerns over the spread of the novel coronavirus have translated into an economic slowdown. Stock markets have taken a hit: the UK’s FTSE 100 has seen its worst days of trading for many years and so have the Dow Jones and S&P in the US. Money has to go somewhere and the price of gold – seen as a stable commodity during extreme events – reached a seven-year high. A look back at history can help us consider the economic effects of public health emergencies and how best to manage them. In doing so, however, it is important to remember…

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