IN PRAISE OF CAPITALISM

It comes as no surprise to learn that the Daily Telegraph is a fervent supporter of capitalism, but even by their biased viewpoint the following takes a bit of beating. "There's nothing selfish about capitalism. Like every economic model, it is a matrix within which individual actors can behave morally or immorally. But here's the thing: no one has yet come up with a system that rewards decent behaviour to the same extent. In an open market based on property rights and free contract, you become wealthy by offering an honest service to others." (Daily Telegraph, 19 January) This piece of nonsense was written by Daniel Hannan who has has been Conservative MEP for South East England since 1999. "Nothing selfish about capitalism" - this is a society wherein millions try to survive on less than $2 a day whilst other luxuriate in billionaire paradise. "Decent behaviour" - in a society where racism, sexism, world hunger and the threat of war is a daily experience. RD