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The Herald Sun's James Campbell says it might be worth while to "essentially stop capitalism full stop for a while and shift to some form of command economy" until the coronavirus is under control.

Mr Campbell said due to the unprecedented calamitous economic and financial effects of coronavirus, "what we're essentially allowing to happen is a slow destruction of capital wealth, jobs, everything".

"There isn't enough money in the world to put Humpty Dumpty back together again".

"Everything is being shredded slowly before our eyes"

Mr Campbell told Sky News host Paul Murray during chaotic stock market events like this "you get these violent rises and falls," but at the end of the day "it's clearly going in one direction".

"Maybe we need to think about pressing pause essentially on the economy as we understand it and (move) to some form of command economy for while until we can get this damn virus under control," he said.

Image: AP