THE Daily Echo Comment piece of November 7 raised the question of an alternative to capitalism, but failed to answer the question, as many politicians fail to do, as well.

It is no wonder such a question is asked when despite all the false promises of Tory, Liberal and New Labour politicians, of a bright future, more and more of us face redundancy, pay and pension cuts and the destruction of the public services we pay for and rely on.

Is it true we are broke? Southampton sits on a lake of wealth, with huge profits amassed at Fords, Esso, the docks, WestQuay, Skandia, HSBC and more. Yet these companies are failing to invest.

Why? Because we don’t need jobs, or housing, public services or education? No because they can’t make a profit. If this is the only motive for the capitalists to invest, aren’t socialists right to argue that the nationalisation of the banks and the top 100 monopolies could unleash the vast resources that exist to invest to meet the needs of society. Then a guaranteed job, decent pay and pensions, affordable housing, free education and NHS would not be an empty political promise.

NICK CHAFFEY, Southampton.