I think you hit on the way economists define "value"; value is derived from people believing something is valuable. Take gold or diamonds for example, which wer

I think you hit on the way economists define "value"; value is derived from people believing something is valuable. Take gold or diamonds for example, which were highly valued before they even had industrial usages. Yes, both are pretty and are rare; however, there are many other equally pretty/rare things that weren't valued as highly. The only value they had was from perception, and that made the value real.