The importance of the Austrian School of economics at a psychological level has been underestimated, I think.

Unlike other unscientific approaches to economics, the Austrian approach sees economics as the logical study of the structure of human action (the content of the actions of different individuals is always different but their structure is necessarily the same: it obeys eternal laws, whose study is the subject matter of economics).

One implication of the Austrian marginal subjective value theory is that value is expressed not by thought, nor by feeling: only by action, i.e. by choice. At a psychological level, the importance of this fact cannot be exaggerated.