Everything you have to say about the present construction slump in Britain applies to the slump of the early Nineties (“Home Truths,” May 24, 2008). Not only do construction firms have a huge backlog of houses that cannot be sold, but they also have acres upon acres of backlogged land. And all this in the name of investment! Perhaps the only surprise this time around is that apparent home truths never penetrate the thick skulls of the next generation. After less than twenty years, everything about the previous slump is forgotten. Everything! Which only goes to show that capitalism as it used to be a century ago was not entirely bad: slumps came more often, and thus one had a chance of learning how to ride them. Besides, those slumps used to be minor affairs by comparison with the newfangled monsters. If only capitalism could learn from itself!