If you are destroying something you own, you would value the destruction of that thing more than any other use you have for that thing and any price you could sell it for on the market, so this creates value in the sense that there is no deadweight loss to the relevant transactions/actions.
You can destroy others’ value intentionally, but only in extreme circumstances where you’re not thinking right or have self-destructive tendencies can you “intentionally” destroy your own value. But then we hardly describe the choices such people make as “intentional”. Eg the self-destructive person doesn’t “intend” to lose their friends by not paying back borrowed money. And those gambling at the casino, despite not thinking right, can’t be said to “intend” to lose all their money, though they “know” the chances they’ll succeed.
To complete your argument, ‘and therefore the action has some deadweight loss associated with it, meaning its destroying value’.
But note that by the same logic, any economic activity destroys value, since you are also not homo economicus when you buy ice cream, and there will likely be smarter things you can do with your money, or better deals. Therefore buying ice cream, or doing anything else destroys value.
But that is absurd, and we clearly don’t have a so broad definition of “destroy value”. So your argument proves too much.
Buy something with it and destroy that.
If you are destroying something you own, you would value the destruction of that thing more than any other use you have for that thing and any price you could sell it for on the market, so this creates value in the sense that there is no deadweight loss to the relevant transactions/actions.
This sounds like by definition value cannot be destroyed intentionally.
You can destroy others’ value intentionally, but only in extreme circumstances where you’re not thinking right or have self-destructive tendencies can you “intentionally” destroy your own value. But then we hardly describe the choices such people make as “intentional”. Eg the self-destructive person doesn’t “intend” to lose their friends by not paying back borrowed money. And those gambling at the casino, despite not thinking right, can’t be said to “intend” to lose all their money, though they “know” the chances they’ll succeed.
You might not value the destruction as much as others valued the thing you destroyed. In other words, you’re assuming homo economicus, I’m not.
To complete your argument, ‘and therefore the action has some deadweight loss associated with it, meaning its destroying value’.
But note that by the same logic, any economic activity destroys value, since you are also not homo economicus when you buy ice cream, and there will likely be smarter things you can do with your money, or better deals. Therefore buying ice cream, or doing anything else destroys value.
But that is absurd, and we clearly don’t have a so broad definition of “destroy value”. So your argument proves too much.