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No, he isn't. The only way his argument makes any sense is if you assume that the only value in a human is their economic production. And while I'd believe a WEF-type to believe that, it's completely wrong. Humans have value. Period.

You'd be better off with one of the high-protein algae. Especially since they have a better amino acid balance, and higher bio-availability than bugs. Seriously, there is no reason a technological civilization like ours should be pushing eating bugs.