The ethics of business
Clifford Longley (“It is facile to dismiss Labour’s nationalisation proposals as Marxist”, 7 October) is right in pointing out the range of “stakeholders” in modern business, but as someone who has been a director of both private and public companies, I have always had to recall that the board are appointed by the shareholders to look after their interests.

At business school, I was taught that the board has the responsibility to the shareholders for their short and long-term interests. In line with Catholic Social Teaching, that means balancing all the stakeholders’ desires and interests for the good of the company.