physical economics

Economics can be given solid roots in physical-science with a bit of help from modern-day information theory. This lets one assign objective (long-term exchangable) value to assets, thereby adding stability to markets otherwise based on media-manipulated confidence, computerized trading-algorithms, and e-trader typos.

For instance, in this context the objective physical-assets (as distinct from credit-assets) that humans offer to the layered niche-network that they comprise are their knowledge and their ability to do work.

Similar KL-divergence based yardsticks for the value of other physical assets (relative to ambient or expected) may be developed and applied:

• to energy assets (like gasoline & food) in context of their available work (with or without considering their surprisal on other levels),
• to mineral assets in terms of their utility and abundance,
• to information assets (including species diversity) in terms of their accessibility as well as the time and effort needed to acquire them,
• and what else?

In this same context money, "assigned property", and even some types of "assigned responsibility" may be in essence credit for prior work i.e. a different type of information in structure. Like all forms of subsystem correlation, the value of these things is also delocalized (i.e. removable on either side of the correlation) and by the second law unlikely (but still able) to grow by accident.

Translating the physical assets mentioned in paragraphs 2 and 3 above into (i) other physical assets, and (ii) into liquid and/or long-shelf-life credit assets, may be positive-sum (correlation enhancing) objectives. Finding ways to latch onto credit generated others with minimal constructive effort on your own part may be zero-sum or negative-sum instead.