I have to correct Idris Francis on his repeated claim that a person’s death costs society the value of both their lost output and their lost consumption (Letters LTT 02 Sep).
People mainly work to produce goods and services that others need and want, in order to be able to consume the goods and services that they in turn need and want to enjoy in life.
An economy’s output is measured by the expenditure on consumption or the market value of the output of its people, but...
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