07 April 2009

An honorable profession

Honor is the expression of mutual obligation. So, for example, banking is an honorable profession in that there are reciprocal codes of conduct at play in the loaning and in the repaying of debt. As the debtor is honor-bound to repay so the creditor is honor-bound to lend only to those who can repay without altering their lifestyle.

In modern times, with the collapse of the venerable codes of honor that had for nearly a millennium governed the conduct of the aristocracy, the market has been offered by society's 'conservatives' as a substitute for those codes as the proper mechanism for governing honorable behavior.

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