This work extends our "standard" understanding of value from a new socio-economic perspective. Despite intuitively feeling its vital function, we clearly have difficulty in understanding the realm of value. Preoccupied with practical issues, economists have almost eliminated the value on which, ironically, economics rests. It suffers today from a deficiency in its core foundations, mainly because of that omission of value and its confusion especially with price, cost and income. Using these value expressions in exchange, mainstream economics has reached the limits of its maturity in explaining/predicting the work of creative destruction in progress.
The author explains how creative destruction can lead to destructive creation from a thoughtful consideration of the bio-paradoxical powers of value. Beautifully pre-settled in human consciousness, value appears to be an ethereal substance predisposed to inducing to action, but predestined to decay in the fulfilling of the action. Value possesses in itself a universal measure of cipher hosting these bio-paradoxical powers in bootstrap, one self-constructive and the other self-destructive, kept in a continuous relation from which energy feeding human senses of happiness/unhappiness emanates. For every event of interrelated human desires in corridors of different sizes, from the simplest to the most complex, value is conceived at the intersection of these forces in perpetual collision; in the absence of one, value would not exist and, in consequence, any human action would be impossible.
The substance of value is defined as human expectation of novelty in information; the more uncertain the outcome of a desired event is, the greater is its attractive power, and consequently, the magnitude of value. In contrast, i.e. when the outcome is certain, there is no expectation, but only information. Information is in reality a consumed form of value; it destroys the expectation and, consequently, the value. Unlike what is launched as technological evolution, acceleration of progress and big data may turn out to be a big problem for the human race because of its permanently converging and shrinking states of expectation, driving increasingly towards a social epileptic state. Without expectation and value, would our civilisation be at risk, up to the point of collapse in the near future? The author intentionally does not respond to that question, but his examination of value provides some assenting elements of thought.
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