Conservation laws for intangibles such as value?

  • Thread starter ACG
  • Start date

ACG

46
0
This is probably a complete quack of an idea, but I can't get it out of my mind. I can't tell if it belongs more on an economics board, though. :bugeye:

Could conservation laws exist for quantities which are not tangible?

We all know there are laws like conservation of momentum, energy, and so forth. I've wondered: is there such a thing as conservation of value (or at least importance)? Could conservation laws exist for quantities which are not tangible?

Consider the following scenarios.

1. Abraham Lincoln was very important and well-known. When he was shot, he was lost -- but the assassin became very (in)famous. The more important the person assassinated, the more notorious the assassin becomes. In effect, value or importance is conserved.

2. Something very valuable is duplicated. Each one becomes half as important because of supply and demand. Value is conserved.

3. You have to do an important job. First you wind up with an important job to do. The job is done and its importance dissipates, but now you yourself wind up more valuable. The more valuable the job, the more prestige you get. Value is once again conserved.

Again, this probably a real quack of an idea, but I can't get out of my head :frown:

ACG
 
1,675
3
It's not quacky.

These are some of the foundations of economic theory.

Capital (cash especially) is like a wound up spring, or potential energy.
Purchasing something i.e. trade is like kinetic energy.
Wear and tear (i.e. capital depreciation) is like friction. Value decreases over time.

That's why Wall Street hires physiscists to make value models in their research
departments- because like the analogy of voltage to pressure, these are useful
ideas and solutions in one realm sometimes help in another.
 

Related Threads for: Conservation laws for intangibles such as value?

  • Posted
2
Replies
26
Views
2K
  • Posted
Replies
22
Views
14K
  • Posted
Replies
7
Views
4K
Replies
4
Views
1K
Replies
11
Views
6K
  • Posted
2 3
Replies
58
Views
19K
Replies
43
Views
6K

Physics Forums Values

We Value Quality
• Topics based on mainstream science
• Proper English grammar and spelling
We Value Civility
• Positive and compassionate attitudes
• Patience while debating
We Value Productivity
• Disciplined to remain on-topic
• Recognition of own weaknesses
• Solo and co-op problem solving

Hot Threads

Top