People can and do compartmentalize, but let's say, for argument's sake, that someone has a thorough socialistic understanding of value. As Rory Sutherland reminds us here, in order to advertise and sell effectively in a competitive market, one must accept Mises' subjective theory of value. And for that, you need a free market (at around minute 13). In this TED Talk, Rory Sutherland discusses the value of Mises and praxeology in understanding the importance of subjective value and human psychology.

Via TED: The circumstances of our lives may matter less than how we see them, says Rory Sutherland. At TEDxAthens, he makes a compelling case for how reframing is the key to happiness. (Filmed at TEDxAthens.)