The expense of major epidemics goes far beyond the outlays for drugs, doctors' visits, and hospitalizations. A pandemic like Ebola that lasted a year could even trigger a major global recession. While scientists are scrambling to find a cure for Ebola, the biggest challenge for economists is to measure the impact fear has on consumer confidence. Why do alarms from new cases add to stock-market jitters? Who calls for widespread travel bans? When are we going to face mass trade disruptions?
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