Ba-ha-ha-ha! I am laughing because this lesson is longer and may require multiple viewings to grab all the ideas presented. I am sure Praxgirl had some funny bloopers putting this lesson together.
Because the ideas presented are more complex (complex should not imply difficult), I am linking the chaper of Ludwig von Mises‘ Human Action below that addresses the ideas in this video.
When watching, take special attention to the concept of “The Utility of a Consumer Good”. For individual advisors, this concept should help when conversing with clients. We are trying to determine our client’s scale of values, what the client would be willing to trade to achieve their higher ranked values, and, if we are skilled, add goals that the client may be leaving on the table because they self-subtract them from our conversation. Why? Because the client feels they are unattainable.
The twelfth lesson https://hessenflow.wordpress.com/2011/10/18/praxeology-human-labor/