In psychology, Theory of Mind (ToM) is the ability to explain, predict, and interpret behavior by attributing mental states such as desires, beliefs, intentions and emotions to oneself and others. Developing during childhood, having a ToM allows us to recognize that others have their own state of consciousness separate from our own, and understanding this helps us to predict how others will behave.
There is no moral compass that comes with the development of ToM. In fact, a ToM is required before there is a motivation to lie. Lies, after all, are an attempt to control the perceptions in another person's mind.
I propose a higher octave of the Theory of Mind which I am going to call the Theory of Soul, which includes the awareness of ToM, and in addition:
The recognition that each human being is on their own unique evolutionary path,
The recognition that the only authority about someone's evolutionary path is the person themselves, and
The recognition that we are all interconnected in such a way that if we want the freedom to pursue our evolutionary path without interference, we should allow that freedom to others.
The third point is what makes Theory of Soul a moral principle. It doesn't matter if the interconnectedness comes from a spiritual belief that we are all one, or it is simply the recognition that it's better to live in a world without people lying and manipulating each other.
Though the awareness of Theory of Soul still seems relatively rare among humans, I have many friends who seem to live with that awareness. When I've gotten close to someone who did not relate this way, it caused a lot of pain and suffering. Now I only choose to get close to people who apply the Theory of Soul regularly in their lives.