Economic Value of Life

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In this case, the economy would not be as productive, and would not be cultivating as many resources. So the value of the person's life depends on their career status. One factor that is vital to understand is the nature and character of the person, because depending on this factor it can be seen whether the person's loss is a benefit or loss to society from an economic standpoint...
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If the person involved in that fatal accident was a thief who was prone to crime or a smoker, then society would be better off without such a person around, because the person's actions would be causing other people expenses. If the person was still alive and he had a character as described, then health care costs would increase to deal with his smoking related diseases and the second-hand smoking effects that he has put on others...
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