There's this idea in economics about the way countries used to have what they called "moral capital". Basically, their reputation as being good or neutral or humanitarian gave them actual protection in the world. And like, you could not simply bully them since they had this invisible protection in terms of respect and trust. And that shield is fading away too, and it is forcing me to reevaluate all the ways that value works.
ICRC cut thousands of jobs because the donor countries decided to spend money on weapons instead. The entire purpose of the organization was to help people in the war zones, and they've been doing it for over a century. And none of it made a difference when the money ran out. The moral capital that they'd built for generations couldn't pay salaries or fund operations. It just evaporated.
From this, I relized that I've been running the same calculation in my life all wrong. I've been developing reputation, good will, trust, expertise. All these intangible things that are supposed to protect you and create opportunities. And I still think they matter, but I'm starting to understand that they only matter as long as the other side values them. The second someone says your reputation isn't worth anything to them, it is worthless. You can be the most trusted person in your field, but your reputation goes down with it if the field ceases to exist or cease to be profitable.
This change occurs rapidly, ironically. One year, being known as reliable and ethical is your greatest asset. The next year fast and cheap is all anybody cares about. You didn't change. The world shifted its value system and suddenly all that you built is obsolete. People who spent decades cultivating respect and relationships getting passed over for people who just offer a better transaction right now. The long game ceased to work, but no one declared it.
If reputation and moral capital can simply disappear that fast, what is actually of value? Is it just raw leverage - to be able to walk away, the thing other people need that only you've got? Because that is cynical but it play out everywhere. The people with leverage end up getting what they want. The people with just reputation are squeezed until they either get leverage or go irrelevant.
The Ambassadors (Holbein), Hans Holbein the Younger, 1533