Is there such a thing in music as meaning? This question has been made several times in the history of western music, but, anyways, what is the consequence of its answer for musical performance? This short reflection aims to bring some references for guiding the research on ways of making music that embody values as meaning and affections. For the whole history of human thought Ethics has been the discipline where values and beliefs are put into practice. The assumption of existence or not of something in reality necessarily led to a consequent action. Thus, Ethics deals not that much with the righteousness of an action but with the responsibility of doing the action. This is how can be suggested such a thing as a musical performance Ethics; not in the sense of a right or wrong performance, but as a responsible and adequate performance in relation of a set of values (and finally to reality). This matter will be considered mostly after two branches of Aristotelian works: Rhetoric and Ethics. Finally, the reflection ends with the proposition of a musical phronesis, with special focus on the performance of the contemporary repertoire.