Will coronavirus herald the end of capitalism?

Capitalism requires the 'voluntary exchange of goods'

Question: Will coronavirus herald the end of capitalism?
Position1 of 4›: Yes, without spending, capitalism will collapse
Argument1 of 3›: Capitalism requires the 'voluntary exchange of goods'

If there are no goods, there can simply be no exchange. Even when goods are available, people are too afraid of the coronavirus to spend disposable income on non-essentials.

The argument

Capitalism encourages people to go to work and spend their wages on necessities in addition to non-essentials. Employees spend their free time shopping at malls, going to the movies, eating out, and having fun experiences--most of which are made possible by disposable income. The coronavirus has now made all of these experiences unattainable. Even if people want to spend their disposable income, they are now very limited in how they can spend it. Movie theaters are closed, gyms are locked, and restaurants are shut down. Further, without a cure, many people are afraid of leaving their house. They only leave when absolutely necessary. This means that the disposable income that would have been spent on a meal, movie night, or a new car is now being saved. This would normally be ok. However, so many people are saving their money that the businesses that thrive off of disposable income are going broke. When these businesses can no longer make money, they go bankrupt and lay off employees. Even with a vaccine, there is no business for these former employees to work for. With the loss of all of these businesses and an immense amount of unemployed people, the government will have no choice but to step in and provide a new type of economic system to support citizens.

Premises

[P1]Capitalism depends on people earning wages and spending disposable income on non-essentials — malls, movies, restaurants — but coronavirus has closed those venues and left people afraid to leave home, so that income is saved instead. [P2] As so many save, the businesses that live on disposable income go bankrupt and lay off workers, and even after a vaccine there will be no businesses left for them to return to, forcing the government to step in with a new economic system. [C] Therefore, because capitalism requires the voluntary exchange of goods that the pandemic has halted, without spending capitalism will collapse.

Counter-arguments

While there will be less variety in what consumers can spend their disposable income on, capitalism will not collapse. Businesses will. In the age of technology, capitalism is diverse enough that some businesses will thrive--like those online--while others will not--like shopping centers. The businesses that thrive will need more employees to keep up with the growth. So, while in the short term there may be more unemployment, the free market will allow businesses to hire new employees and diversify. Capitalism will help itself recover from these circumstances, so there will be no need for another type of economic system.

Rejecting the premises

[Rejecting P1] The premise mistakes one sector for the system. Discretionary spending on leisure fell sharply, but wages, rent, food, utilities and online retail continued, and much of the saving was forced rather than chosen — money not spent because the venues were shut. A rising saving rate under those conditions describes deferred consumption, not an end to exchange. [Rejecting P2] "No businesses left" is asserted and does not follow from the reasoning given. Bankruptcy transfers or liquidates assets rather than removing the demand, and where demand returns new firms enter, which is what the counter describes. The premise also treats government intervention as the arrival of a different economic system, when large-scale state support for private firms and household incomes is a familiar feature of capitalist economies in crisis. [Rejecting C] The conclusion needs the halt to be permanent in order to be fatal. What the premises describe is a severe and temporary interruption to particular kinds of consumption — a recession rather than the end of a system.