Motivation: I came across a question while perusing the internet: assuming that mass, momentum, and kinetic energy are conserved in a system, ($mv^0, mv^1$, and $\frac{1}{2}mv^2$, but we can ignore the 1/2 here...), are all further quantities $mv^n$, with $n$ an integer >2, conserved?
My instinct was mathematical induction. But I'm pretty sure worried I have no clue what I'm doing, so I checked a simpler case first.
Given that mass and momentum are conserved, we have $m_0=m_f$ and $m_0v_0=m_fv_f$. Here we're taking $m$ to be the mass of the system, and $v$ to be the velocity of the center of mass.
Now, if $m_0=0$, we already know that $\frac{1}{2}m_0v_0^2=\frac{1}{2}m_fv_0^2=0=\frac{1}{2}m_fv_f^2$ (the last equality is because $m_0=m_f=0$). So without loss of generality, we'll assume that the mass of the system is not $0$.
Now, since we have $m_0v_0=m_fv_f$, squaring both sides gives $$m_0^2v_0^2=m_f^2v_f^2.$$ Since $m_0$ is assumed to be nonzero now, we can divide both sides by it to get $$\frac{m_0^2v_0^2}{m_0}=\frac{m_f^2v_f^2}{m_0}.$$
But we also have $m_0=m_f$, so this becomes
\begin{align} \frac{m_0^2v_0^2}{m_0}&=\frac{m_f^2v_f^2}{m_f}\\ m_0v_0^2&=m_fv_f^2\\ \frac{1}{2}m_0v_0^2&=\frac{1}{2}m_fv_f^2. \end{align}
Which seems to say that kinetic energy is conserved if mass and momentum are conserved.
But I was told that kinetic energy can be changed to thermal or positional (or re-stored in other ways), and it is not necessarily conserved even if momentum is conserved. So where have I gone wrong? And is there any way to repurpose or salvage this inductive argument to answer the italicized question? (or is the answer that, in general, it is not true?)
My thoughts on what may have gone wrong: Does $\frac{1}{2} mv^2$ only give the kinetic energy when all the mass is moving in the same direction? If so, is there any interpretation to $\frac{1}{2} mv^2$ when we are treating $v$ as the velocity of the center of mass?