Simple scarcity is sufficient to create value if people decide to value it.
"If people decide to value it" makes that a tautology. Leaving that aside, scarcity is necessary but not sufficient. The only surviving painting by a contemporary of Leonardo da Vinci of little renown will be valued, but less than one by Leonardo.
Silver has two stable isotopes, in roughly equal proportions. I doubt there's much monisotopically refined silver in the world. It would cost more to make it, but it wouldn't be worth more, unless someone wanted some that badly for a practical purpose.
As phrased it's tautological, but my point was the implication - people can choose to value whatever they want, value is not intrinsic to an item. Lack of scarcity does provide an upper cap, though - air will never be valuable on the surface of Earth - so if people have chosen to value something, then scarcity is the remaining factor needed for it to have value. (I phrased it poorly, but I think it's still strictly correct)
This is a new thread to discuss Eliezer Yudkowsky’s Harry Potter and the Methods of Rationality and anything related to it. This thread is intended for discussing chapter 97. The previous thread is at nearly 500 comments.
There is now a site dedicated to the story at hpmor.com, which is now the place to go to find the authors notes and all sorts of other goodies. AdeleneDawner has kept an archive of Author’s Notes. (This goes up to the notes for chapter 76, and is now not updating. The authors notes from chapter 77 onwards are on hpmor.com.)
The first 5 discussion threads are on the main page under the harry_potter tag. Threads 6 and on (including this one) are in the discussion section using its separate tag system.
Also: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25.
Spoiler Warning: this thread is full of spoilers. With few exceptions, spoilers for MOR and canon are fair game to post, without warning or rot13. More specifically: