> Back in your day education was not sold as a financial transaction to a prosperous life.

Assuming the person you're talking to is still alive, this isn't true.

> The honor system is idyllic and requires idyllic circumstances: people who pursue education for no reason other than curiosity or self improvement.

This isn't true either; if your student body consists of only those people, you don't need any system at all. There is no point in even notionally punishing students who don't want anything from you.