HOW CAPITALISM OPERATES

We are constantly amazed at the current ignorance about how capitalism operates. Chancellors that claim they can get rid of slumps and booms, prime ministers who believe that a series of reforms will solve social problems, but this piece of nonsense takes a bit of beating. "Adam Sampson, chief executive of Shelter, said: "Mortgage lenders have made billions from first time home buyers and Shelter believes it's now the turn of those lenders to help them." (Metro, 10 July) What Mr Sampson does not seem to realise is that capitalists makes their fortunes from rent, interest and profit not from some benign urge to "help" borrowers! Perhaps its "now the turn" of Mr Sampson to learn a litle bit about the basics of capitalist society. RD