Book Cover

Democratic
Capitalism,  The Way to a World of Peace and Plenty
by Ray Carey

Hard/Softcover/Kindle - 5 May, 2004, Available on Amazon.com

Ray Carey presents the theory and practice of democratic capitalism by coupling his experience with a synthesis of the thought of Adam Smith, Karl Marx, and John Stuart Mill.  The empirical evidence is clear: democratic capitalistic companies produce superior results, and nations that support economic freedom and keep money neutral improve the lives of their people.


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On-line Education in Democratic Capitalism

Capitalism means private capital invested to grow, make profits, and provide jobs. Based on economic freedom it can eliminate material scarcity and unite people in economic common purpose.

China and India demonstrated this power of economic freedom in an authoritarian environment when they took a half-million humans out of extreme poverty in a decade. The European Union demonstrated that economic common purpose could stop the killing of millions of young men.

Economic freedom improves lives but more wealth is built and distributed when the work culture is democratic, that is, when each worker participates and contributes.

In Information Age industries the democratic work culture is a competitive necessity to release the cognitive power of their people, their only resource. The source of capital through ESOPs, 401 (k)s, and other ownership opportunities should also democratized the work culture, including a capital wage for the worker.

This democratic capitalism is being severely limited by the domination of the economy by finance capitalism. For a quarter century growth programs have been sacrificed to hype the stock price and now high speed trading has taken over 99% of Wall Street activity. Small trading profits, thousands of times a day, are concentrating wealth for the few at the expense of the many. 

Worker capitalists must be educated to structure government in support of democratic capitalism. Managers must be educated to develop each to full potential while building a work culture of trust and cooperation.  The rest of the universities must recognize that this economic system provides a value system applicable to all human associations as well as the integration of knowledge.

Such education is the mission of this material. It includes articles distributed on the Carey Center, short profiles of the “wayfarers” on the way to peace and plenty, and letters to various people including President Obama and the Dean of Harvard Business School. 

 

 

 

Ray CareyRay Carey

Ray Carey learned through managing companies for 33 years how to change the work culture to provide employees with their best opportunities to develop and contribute. This experience began as a 28 year old plant manager and later president of an electric motor company, and concluded with eighteen years as president , chairman, and CEO of ADT, Inc.

See Carey's autobiography of his work career in chapter two of his first book:

Democratic Capitalism, The Way to a World of Peace and Plenty.

For more information about Ray Carey and his advocacy of democratic capitalism, visit the pages of this website.


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Democratic Capitalism: The Way to a World of Peace and Plenty

Capitalism produces wealth from market freedom and competition, democratic capitalism maximizes wealth from worker participation. Their sharing in the improvement sustains motivation and adds consumer income that increases economic growth. The value system is trust and co-operation, the impediments are mal-distribution of wealth and violence among nations and people.

Surplus wealth was built by firing workers engaged in growth programs and by not increasing wages for productivity gains. Corporations avoiding taxes left $6 trillion of this surplus sitting in foreign accounts. The distribution of this surplus depends on a critical Board decision. It should be returned to the workers in wages, dividends, and profit sharing that add to economic growth, but managers influence Boards to repurchase shares to hype the value of options while hurting economic growth.

The workers are now capitalists through their pension funding, but they are not yet organized to influence policy. Finance capitalism continues to dominate the economy and influence politicians. Reformers who should correct this capitalist perversion do not understand wealth production from democratic capitalism; instead they concentrate on the political structure that distributes wealth.

CCDC June 27, 2017

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