WHEN economic analysts have been asked about the possible effects of the 2019 novel coronavirus acute respiratory disease (2019-nCoV ARD) on the global and national economies, they invariably provide two answers. The first is, “It will have a negative effect,” and the second is, “We don’t know what that is yet.” That uncertainty is more than enough reason for our own economic managers to begin steps to mitigate damage to the economy, even if that damage never happens.

On a side note, yesterday (Wednesday), the World Health Organization (WHO) announced that it had officially named the illness Covid-19, acronym for coronavirus disease 2019; so, we will refer to it as such.