I'm just translating this because I find it picturesque...
A nobility title is not unlike a trademark, then. Now, why is this regulated?
Okay? We keep nobility titles because there is no reason to go through the trouble of abolishing them. But they are purely honorary and equality before the law is supreme.
Not retroactive, then.
Conclusion: The Guardian has its head up its arse. The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.