People often treat discipline like an individual virtue.

It’s more than that.

Discipline stabilizes markets.

When buyers refuse to overpay, sellers price realistically.
When lenders enforce standards, brokers adapt.
When professionals remain independent, deals get cleaner.

But when discipline collapses, everyone learns that pressure works.

And pressure-driven markets destroy value because they reward behavior that ignores risk.

That’s the deeper moral hazard:

The system gets trained away from reality.

Reality always collects.