Originally posted on Mises Canada
One of the most popular proponents of BE is Rory Sutherland (who I’ve been praising for years), an ad executive with Ogilvy Mather. The interesting thing about Sutherland is that he also calls himself a follower of Mises, in addition to promoting popular BE concepts and nudges. He once gave a talk at Google titled “Praxeology: Time to Rediscover a Lost Science.” Praxeology, of course, was Mises’s preferred term for the general science of human action.
One quote he’s quite fond of, which he attributes to Mises, is “There is no sensible distinction to be made between the value a restaurant creates in cooking the food, and the value the restaurateur creates by sweeping the floor.” While I haven’t been able to source that exact quote, I do know that he made this statement in the section titled “Business Propaganda” in Human Action:
“If the manufacturer of candy employs a better raw material, he aims at an increase in demand in the same way as he does in making the wrappings more attractive and his stores more inviting and in spending more for advertisements.”