What is the main point of the Ring of Gyges parable – is it about power, or about the lack of accountability, or about the consequences of our actions, or about having certain (desirable) reputation? Justify your answer.

I am a first year student in university. My professor gave me these instructions:Your analysis in the paper must draw on the original texts specified in the readings for the relevant week(s), and, ideally, on scholarly sources (articles, book chapters) that you have identified yourself. The paper should have a bibliography and footnotes or endnotes (Please use Chicago citation style). In developing your argument, make sure to clearly define the problem you are addressing, to explain the key terms (such as ‘justice’, ‘slavery’, ‘perpetual peace’), and to pay special attention to the arguments of the philosopher(s) analysed rather than to current events or applications (such applications should be no more than 30% of the paper). When you use direct quotations from a philosophical text, make sure to explain what the quoted text means in your view (this is not self-evident). One way to check whether you are doing this properly is to ask not only what Mill or Kant, for example, have said, but why they have said it and what follows from that. As a rule, your argument should involve a number of points which support each other and which form a logically interrelated chain. The best papers end up providing a balanced judgement of the issue at hand, rather than being simply a ‘for’ or ‘against’ argument.