Could honor have use value sufficient to stimulate optimal social production? Or, are there first mover advantages to an honorable person? Are there network effects to honor? If any of these questions deserves a yes (or even a maybe) then we have an economic theory as to why honor might be something that does not require external reward, i.e. honors. We have an economic theory explaining the Aristotelian intuition—honor is something you do without external reward. There are rewards internal to the behavior—especially in the long term—and no dire public good problem exists.
Important questions deserve serious answers. “Honor is its own reward” sounds nice, and it’s assuredly aspirational, but my training in economics urges me to think on the margin, so to speak. What motivates the next honorable act? So “could honor have use value sufficient to stimulate optimal social production?” For people with a natural propensity to act honorably, I reckon the answer is yes. External incentives are there for otherwise indecisive folks to behave honorably, even if honor isn’t otherwise a part of their character.
I admit, this sticks in my craw a bit. Honorable behavior spurred by promises of acclaim are pallid, anemic. It ain’t eudaimonia. It’s makarismos. Consider DD‘s closing question ” why bother with all the labor of ethical virtuousness if I can get the same benefits without working?” The reason to bother is because sloth is a vice. It galls the sensibilities to be obliged to pay someone for virtuous behavior, even if the outcomes of the exchange are felicitous. It feels like dirty pool. Or maybe like a dirty pool. Whatever.
My complaint is chiefly aesthetic, I admit. Here I am bathed in the milk of peaceful voluntary exchange and it rankles me that there’s a market in virtue. I irrationally want people to act well of their own accord, to work towards developing excellence in themselves and within their communities without having to be bribed. I want eudaimonia. I have a hunch that the possibilities forwarded by Peter (first mover, network effects) are more likely to exist for eudaimonic honor than for makarismic “honor”, but that’s still just my own sense of right and wrong, and it’s as fallible as the garden of good and evil in which my ethics were cultivated.