The word “Value” has multiple meanings in different perspective but at the same time it has the same core.
Generally, it is what is seen as important to a certain person or a group. The higher the importance, the higher the value. It can even be further broken down as to explaining what is important? I’d like to think about it as: as long as it is needed, therefore it is important. If it was rather a want, then it would not be as much as important.
In a business mindset, as a general rule of thumb: value is dependent on the availability. The more scarce it is, the more valuable it is. In such mindset, it really doesn’t have to be a necessity. Let’s take gold and diamond for example, as much as I am aware of, even though gold is good for conduct-ability and diamonds sturdiness is helpful for drilling, they generally are more valued for luxury reasons. They are not a necessity. Then, even though necessity determines value, scarcity can sometimes value more even if it was not needed.
Thankfully, not all people think the same. If everyone held the same level of value for specific items, consequences are not favored because it will eventually become chaotic. What is the value of money if no one is on the other end to receive it and replace it for us?
However, what troubles me most is how a thing that could be valuable to someone, yet instead of holding on to it, they let it go. For me, it looks like it’s mostly an emotionally motivated way of thinking. Let’s take the value of life. As a person who’s diagnosed with depression, my view of the value of life is retained in how successful I get and how much meaning it brings to me. Yet, in the very essence of those moments I reach a good spot that I get the most depressed and life becomes valueless. I do appreciate those good spots I get to, especially after a very long effort of error and trial and the sense of achievement after hard work is in-tradable yet highly valuable. Logically, life is valuable. Emotionally, not so much.