The economic impact is largely due to the shut downs, not the virus itself.
Our ability to pay for a health system is due to the economy, so it's not apples and oranges, it's two sides of the same coin.
By apples and oranges I meant the situation, because I also agree that econony saves lives, and economic crisis cause deaths. I just don't think this logic translates that well to an acute situation.
I think it's a matter of scale and time. It takes time for the economic crisis to kill people and there is a lot you can do during that time to prevent or mitigate that.
Do you not think the virus itself will cause economic impact? We'll have the chance to readress this issue in a few months, but my bet is that the countries that will (or have attempted to) "prioritize the economy" will have worse results, not just in terms of health (this is obvious) but also in terms of economic consequences. I don't have a way to sustain this opinion, it's just my gut feeling.
In places where things will get worse than Italy, I doubt governments will need to enforce shutdowns. Most people will be terrified when that crap comes knocking on their door.