If a medically-informed response to a pandemic creates economic hardship so serious that the impacts are more deadly than the virus, then you change your economic system, not your response to disease.
You mean change the entire world's economic systems? Who had a real lockdown and has upward economic indicators as a result? Even Germany isn't spared. China certainly isn't. There's a level of interdependence here as well - if consumption (goods or tourism or take-your-pick) in one country shuts down, another country can be heavily hit and layoffs result. But all that aside, what's the bullet-proof economic system that 300 years of economic philosophy and experience has missed that would help here?