Economic relativism?

Steven Friedman has extended the concept of moral equivalence to economic policy equivalence, according to which there is no such thing as being right or better. In his world, a backward culture that, for instance, entertains honour killings is not inferior to western liberalism — it is just different. Or, “radical economic change” is just as valid as the mainstream economics that reduced poverty and furthered advancement in every country that adopted it, notwithstanding that it can only guarantee to be the best system, not the elusive perfect one.

There is no aspect of Venezuelan economic policy worthy of discussion.

The UK and the US have proved beyond doubt that ideas are not necessarily of equal value, and it is not always the majority that holds the best idea. The UK under some form of mass hysteria voted themselves out of the EU, and the US elected Donald Trump. Both decisions were clearly wrong and self-harming on any rational analysis.

Perhaps Plato was right to suggest that democracy soon descends into absurdity, and the best form of government is a republic led by educated philosopher kings, grounded in wisdom and reason.

Sydney Kaye

Cape Town