The Cycle of Value

41 Pages Posted: 21 Jul 2022

Date Written: May 11, 2022

Abstract

An attempt is made in this paper to establish a representation of economic activity in the form of a law of conservation of value. A definition for value as potential to act in an environment allows the encapsulation of the term as a conserved quantity throughout transactions. Marginal value and speed of marginal value are defined as derivatives of value and marginal value, respectively. Traditional economic statements are represented here as cycles of value where value is conserved. Producer-consumer dyads, shortage and surplus, as well as the role of the value in representing the market and the economy are explored. The role of the government in the economy is also explained through the cycles of value the government is involved in. Traditional economic statements and assumption produce existing hypotheses as outcomes of the law of conservation of value. Further research and the application of the findings in various settings would be required to support the validity of the law of conservation of value as a tool for studying the economy.

Keywords: value, conservation of value, cycle of value

JEL Classification: A, D, E, F, G, H, O, P

Suggested Citation

Harkiolakis, Nick, The Cycle of Value (May 11, 2022). Available at SSRN: https://ssrn.com/abstract=4159625 or http://dx.doi.org/10.2139/ssrn.4159625

Nick Harkiolakis (Contact Author)

New England College ( email )

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
37
Abstract Views
412
PlumX Metrics