"But in a market society, since when are people responsible for the economic effects of their...

“But in a market society, since when are people responsible for the economic effects of their actions? “

I wanted a little bit more reasoning and example on this “THE WAY WE LIVE NOW” piece from this upcoming New York Times mag, which says that people should abandon their underwater mortgages (true!). He writes: “Mortgage holders do sign a promissory note, which is a promise to pay. But the contract explicitly details the penalty for nonpayment — surrender of the property. The borrower isn’t escaping the consequences; he is suffering them.” Sure! There is of course often the complication that then, you know, people have to find somewhere else to live.