In episode 60, we are joined by Rory Sutherland, Vice Chairman of Ogilvy, one of the world’s largest advertising and marketing agencies, one with a long tradition of customer insights. His latest book is titled 'Alchemy', which explores how a deep understanding of subjective value can lead to outstandingly effective creative marketing. But he doesn’t use the term subjective value ​— instead, he calls it psycho-logic. One of the key planks in Rory’s argument in favor of psycho-logic is that it deliberately follows the path of Austrian economics, and rejects the mainstream economists’ unrealistic assumptions about the quantified logic and cold, rational calculation of 'homo economicus'. Please listen to the podcast, in which Rory as a raconteur delivers great fun and entertainment as well as helping entrepreneurs to think more incisively about customer motivations. Show Notes: https://mises.org/library/rory-sutherland-how-austrian-approach-helps-entrepreneurs-multiply-value "Rory Sutherland’s Black Box" (PDF): Mises.org/E4E_60_PDF Economics For Entrepreneurs is also available on... iTunes: https://itunes.apple.com/us/podcast/economics-for-entrepreneurs/id1453233518?mt=2 Google Play: https://play.google.com/music/m/Iz2umketq6fu5npyjpb57b7z2cq?t=Economics_For_Entrepreneurs Stitcher: https://www.stitcher.com/podcast/mises-institute/economics-for-entrepreneurs?refid=stpr Soundcloud: https://soundcloud.com/misesmedia/sets/economics-for-entrepreneurs Spotify: https://open.spotify.com/show/7A1kY8ksk1qL2oNf0i97Zp and via RSS: https://mises.org/itunes/735