Common sense needs to prevail over mania, numbers over hyperbole and science over conjecture. But even then, this is hard if our data is collected poorly and then poorly disseminated. So what is the answer then? Maybe a strengthening of resolve against all forms of panic? Is there a single event in history has been solved by panic?
We did listen to the ones crying (i.e, "panicking") over Y2K bug and a lot of money was spent on it before January 1st, 2000, so that got solved swiftly. On the other hand:
- Had we listened to the ones crying (i.e, "panicking") over the excess of the dot-com era, we wouldn't have pets.com and WebVan.
- Had we listened to the ones crying (i.e, "panicking") about the mortgage crisis, we wouldn't have gone through the 2008 recession.
- Had we listened to the ones warning about the need of controlling flights to China in January (i.e, "panicking"), half of Europe wouldn't be in lockdown.