Sir, I understand Robin Harding’s critique of Warren Buffett’s model of low-capital investment/high-growth monopolist enterprises ( Comment, September 13); but he leaves out the non-financial but spectacularly efficient management contributions and consequent market integrity his team brings to these businesses — and to the greater market as a whole.

Singling out the Koch Brothers and Elon Musk as being emblematic of being what America needs is troubling to say the least, as those vital entities capitalise greatly from government assistance via means of regulatory influence; billions in subsidies and tax breaks that a proper capitalist enterprise should avoid — and when in receivership of such benefits should be accountable to the public. Mr Buffett, although not a great innovator, has a long résumé of securing confidence in markets and businesses like Goldman Sachs, Bank of America, along with rail and freight enterprises. The market impact of his timely votes of confidence and investment is immeasurable to the global economy.

Yes, he profits greatly from these bold and often ruthlessly critiqued actions. But those profits pour into pensions funds, schools and philanthropic endeavours fighting more for survival than maximal effectiveness these days — proving that over many decades, the Buffett model has trickled down to benefit most market creators, investors and consumers.

What America and world markets need today is a reinvigorated business ethos where integrity and transparency dovetail relentlessly with growth. Boring perhaps, but it provides a sustainable foundation and construct for the adventurers to launch us into the future. I remain optimistic.

Otis Manousakos

London SW8, UK

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