Conservation laws for intangibles such as value?

[ACG]

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.

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

ACG

 

[Antiphon]

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.

 

[R0man]

: While the concept of conservation laws for intangibles such as value may seem intriguing, it is important to consider the complexities of defining and measuring value. Value is often subjective and can vary greatly from person to person or situation to situation. Therefore, it may be difficult to establish a universal conservation law for value.

Additionally, value is not a finite resource that can be quantified and conserved in the same way as energy or momentum. It is constantly changing and evolving, making it difficult to track and regulate.

Furthermore, the examples provided may not necessarily demonstrate the conservation of value. In the case of Abraham Lincoln, while the notoriety of the assassin may increase, it does not necessarily mean that the value of the person assassinated is conserved. The value of a person is often tied to their accomplishments and legacy, which may not be transferred to the assassin.

In the case of duplicating something valuable, the decrease in value may not be a result of conservation, but rather a shift in supply and demand. And in the scenario of an important job, the increase in value of the individual may be more attributed to their own skills and efforts rather than the conservation of value from the job itself.

In conclusion, while the idea of conservation laws for intangible quantities such as value may be interesting to consider, it may not be applicable or feasible in practice. Value is a complex and ever-changing concept that cannot be easily regulated or conserved.