He is a bit thick on the rhetoric no?
"There has never been a Global economic disruption on this scale in history....."
Tell that to war torn Europe or the Eastern Block or even US during times of ration books and shortages. Not to mention the all but complete cessation of shipping due to U-Boats in Atlantic. At a time when air freight was non existent.
Spanish Flu in early 1900's also was no minor event. It infected half or more of the planet and killed a measurable percentage of the world's population.
It looks like Mr. Maund (whom I read and like) suffers from the "if it happens to me it is more important" syndrome.
Revisionist history or simply ignoring it to make a dramatic point decreases one's credibility.