[Link] TED Talk on Perceived Value

Rory Sutherland, an ad man (who missed his calling as a comedian), gives this talk on perceived value versus "real" value, and comes down in favor of more of the first.  He also dabbles in history, status, behavioral economics, and the importance of user interface design.

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He also seems to be well-versed in some of the finer aspects of (ir)rationality:

Attempts are still made to understand consumer behaviour in the light of what people say – even though, in many cases, people can no more explain their actions than a cricketer can explain the physics behind catching a ball. And advertising still works to an overt proposition, as though people were principally driven by persuasion rather than seduction.

Winning fungibility suggestion at the 2-minute mark.

He probably wouldn't hate the notion of productive value.

Good stuff. Seemed pertinent, so I added the Chesterton quote to my walking project.