What factors have led to the erosion of trust and honesty in recent years?
Frankel: We cannot prove what causes change in our complex society, but we examine the environment and judge for ourselves. What we have seen is that while respect for morality and law has gone down, belief in the market’s invisible hand and rules has gone up. Professionals, the “gatekeepers” of honesty — the accountants and the lawyers — have become businesspeople, with this difference: professionals are committed to society first and to profits second; businesspeople are committed to profits first and second. Meantime, economics has often undermined the spirit of the law. Principles have been substituted for cost-benefit analysis. And I could go on. Q: How can we move back toward an honest society? Frankel: The first step is to be aware of the change. The second is to recognize the harm of this change and the danger that it will become our permanent culture. The third is trying to restore the balance between morality and law and the justice of the market. The most important part is e
