We are about to enter a production slowdown—a collapse, really—not because some businesses miscalculated their investments, but because government intervened drastically and without warning to shut down all businesses.
The Greeks haven't saved or produced enough to justify their high standard of living compared to other countries of the world. This is a fragile bubble economy made possible by European central bankers.
The idea that a free and mostly privatized society would let pandemics rage unchecked is based on a crude caricature. The truth is that a free society offers flexibility and resilience that a centralized system lacks.
Anti-price gouging laws mean that those who really end up getting the short end of the stick are those who don't have the time or the means to beat the crowds to the store. Worse off are those of lesser means who rely on public transportation or walking to transport groceries home.