What should not be done is shut down the global economy. Because there is a cost on the head of every individual, an actuarial cost of life, and - in countless fields - money is literally exchanged for human lives based on the values chosen. If you shut down the global economy, you rob the money supply, and in turn, you kill people. A normal year sees 58 million deaths. To any of these "full shutdown" people, I ask, how much do you want to crank that number up by destroying the global economy?
To put it another way: how does the quality and longevity of life look in, say, Haiti? Or Afghanistan? Or the Republic of Congo? And even they have some economic activity ongoing.
There is however a huge difference between "not shutting down the global economy" and "doing nothing". There should be onerous requirements on companies about sterilization and social distancing of employees (and customers). If a company cannot afford to do them, then yes, that company should be shut down. But if the financial activity justifies the isolation costs, then no, it shouldn't be.
I'm deeply bothered by the fact that people seem to be focused on the wrong issues. Shutting down companies where there's proportionally low risks of transmission? Yes, at the drop of a hat! Doing nothing about people cramming into lines at grocery stores, or long crowded "CDC health survey lines" at airports, or all of the people who don't have to work crowding at parks, beaches, etc, or hosting block parties? For god's sake, put your effort into policing that sort of thing, not shutting down the global economy.
