We know that sufficiently strong social distancing - and universal mask use - can reduce Re below 1, causing the epidemic to shrink exponentially instead of growing exponentially. Once it is small enough, good testing and contact tracing should be able to contribute a significant reduction to Re, so that you can back off on more costly measures.
As hard as it sounds for the economy to adapt to extreme social distancing for a short time and moderate for a long time, it seems like a better bet to me than trying to increase intensive care capacity - which already consumes a nontrivial fraction of gdp - by orders of magnitude and write off millions of lives.
As hard as it sounds for the economy to adapt to extreme social distancing for a short time and moderate for a long time, it seems like a better bet to me than trying to increase intensive care capacity - which already consumes a nontrivial fraction of gdp - by orders of magnitude and write off millions of lives.