How I would deal with CV-19
The current “flatten the curve” strategy is a result of medical advisors constraining their options with a bad economic assumption and then governments not realising their medical advice contains an economic fallacy.
Flatten the Curve essentially means maintain enough social distancing to balance the health service on the edge of collapse until a vaccine is rolled out in 6-12 months. Due to the intensive care rate and the infectiousness of this virus, it looks like keeping the curve beneath health service capacity requires extreme economic shutdowns of leisure, travel, retail sectors etc.
Flatten the curve is a flu policy and makes sense if the total cost of flattening is lower than than cost of killing the curve, but due to the cost of flattening in this case, killing the curve is far cheaper because it can be done in far shorter period of time.
We know from Wuhan and common sense that 6 weeks full lockdown excluding non essential work, together with N95 masks for all essential workers and for shoppers, will more or less eradicate the virus from your area. We also know from China ex Wuhan and Korea that a thorough: Test, Trace, Isolate policy can keep secondary cases to an insignificant number while allowing the economy to get back running. (Most countries are too late to move straight to a Korea strategy because the virus is so widespread they no longer have capacity for contact tracing, so first they need lockdowns to get numbers under control).
But it is possible a more targeted strategy could allow shorter lockdowns. 2 weeks full lockdown excluding non essential work in-line with Wuhan/California/NY could be enough to buy time for a more targeted strategy.
After 2 weeks lockdown, households with no suspected cases should be tested. If clear they can go back to work (with N95 masks and improved hygiene policies). With tests again performed daily to catch longer incubation periods.
Households with suspected cases should be tested after 3-4 weeks to allow extra time to catch household chain infections. If clear, they too can go back to work.
After this, the country should only open easy borders to countries that have adopted a similar “kill the curve” policy. Most countries should do this before too long, but all borders can be opened in a year or so once everyone is vaccinated.
Adopting a 4-7 week "kill the curve" strategy should allow much more thorough support for industries to allow them to quickly re-hire and ramp back up afterwards. Currently the "flatten the curve" policy is open ended and governments need to maintain borrowing capacity and dry powder to allow them to support current measures for 6 months plus which means measures are not comprehensive enough to prevent long term economic damage. It is also much harder for debt and equity markets to have confidence to fund companies to avoid bankruptcy when these shutdown measures are open ended.