We often assume that logical improvements, such as making a train faster or a product cheaper, are the only ways to create genuine value. Yet, many of the world's most successful innovations succeed by being intentionally illogical or by solving psychological tensions rather than physical ones.

Advertising legend Rory Sutherland joins the show to discuss why "perceived value" is the most environmentally friendly form of value you can create. He explores the concept of "Alchemy"—the ability to perform magic in perception where physics and engineering fail—and explains why humans value things based on what they mean rather than what they are.

• Stories as the "PDF files" of human information: the universal vehicle for storing and sharing value.
• The power of counter-signaling and why tenured professors often dress like tramps  ...