Book Cover

Capitalism,  The Way to a World of Peace and Plenty


Demonstration that only democratic capitalism builds more wealth and distributes it broadly compared to economic alternatives that concentrate only on distribution. Such understanding will also limit the pervasive criticism of generic capitalism that limits its growth.

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    1. The following reminds us that force has prevailed over reason from early history. Burke observed late in the 18th century that humans kill more of their species than any other animal. This record keeps growing. The Enlightenment questioned if Newton could find order in the universe why can't humans find order in society and neutralize force? This is still the question.

    2. The attached selection from Chapter 10 of my book Democratic Capitalism describes how civil society is divided between those motivated by trust and cooperation and those who use force for their purposes. War is the inevitable result of those depending on force and a record number of 160 million were killed during the 20th century, mostly non-military. Conversely the Economist (9/15/18) reports that during the last 175 years life expectancy has risen from under 30 to over 70; people living below the poverty line have fallen from about 80% to 8%, and literacy rates are up more than five times to over 80%.

    3. Worker ownership has grown in many ways because properly organized it improves productivity. It can be introduced in all companies simply by providing the opportunity to buy ownership through payroll deductions. To succeed the culture must be one of trust and cooperation with capital and labor synergistic not competitive. The workers' share in improved productivity can be invested in improved health and education.but they are also given the opportunity for self development. This is the long-sought "humane capitalism." Ray Carey

    4. The attached is the second CCDC message taken from Chapter 10 of my book Democratic Capitalism, The Way to a World of Peace and Plenty. The subtitle expresses my optimism for the future. While such optimism has been general during much of human history the present mood is critical. The intellectual community has been critical of capitalism from the beginning but many are now critical of democracy. The idea that capitalism and democracy should be a powerful combination is not taken seriously in academia or in the intellectual community. Incredibly many of the younger generation do not believe that they will participate in a better life. It is critical that those in a position to influence the culture and its value system finally assume their responsibility to study the economic and social alternatives. I hope my book contributes to such a vital obligation to examine alternatives. It you would like a copy of Democratic Capitalism, the Way to a World of Peace and Plenty send your mailing address to Jef Gully at .for a no charge book. Ray Carey

    5. The attached is the beginning of Chapter 10 of my book on Democratic Capitalism. The heading quotes President Franklin Roosevelt who said the the free market system had not failed but that it had not been tried yet. This is still true and is the reason for a growing feeling among many that there is something fundamentally wrong with our economic system and the government structure that supports it. The problem is still concentration of wealth and violence among nations and people. Reform is still not successful because reformers concentrate on ways the government can distribute wealth instead of how the economic system could produce so much wealth that the two impediments could be eliminated.

    6. The CEOs and Board are not capitalists because they take capital out instead to putting it in.( see # 146) Conversely the workers are now capitalists as their pension funding is a major source of new capital. Wall Street, however, diverts much of the workers' capital to leverage the speculative trading.

    7. This article describes the price/earnings P/E ratio that is now double the traditional level.  The appropriate question is Why? 

    8. Message to Chris Hayes regarding MSNBC Stock buy-backs 6/11/2018

    9. Rejection: Owen demonstrated that an investment in the workers produced more wealth. The intellectual community did not accept the factory manager as qualified to offer such advice. 2/7/2018

    10. Good Capitsm vs. Bad Capitalism 1/25/2018

    11. Review of Democratic Capitalism by Senior Women Web Culture Watch 12/22/2017

    12. J.S. Mill’s Democratic Capitalism Manifesto 11/29/2017

    13. To D. Dunlap, Dean, Hamline University, from S. Rosen, Pres. Hansome Energy Systems Inc. 11-14-95

    14. To Dean D. Dunlap, Hamline University, from A.F. Reposi, Chairman & CEO Lavoratore indipendente 11-13-05

    15. The Way to Peace and Plenty

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

    17. Greed versus Growth

    18. Hamilton’s Governors or Jefferson’s Governed

    19. The Democratic Work Culture

    20. Two reviews of Ray Carey's book, Democratic Capitalism, The Way to a World of Peace and Plenty

    21. A CEO’s Dilemma

    22. The Way to a World of Peace and Plenty

    23. America’s Russian Policy

    24. Jobs for everyone when these dots are connected

    25. Capitalist Alternatives

    26. Piketty’s Lament

    27. Give the Federal Reserve the Needed Tools

    28. Inequality of wealth

    29. NY Times Article with Charlie Munger and Warren Buffett

    30. An Agenda to Reform Capitalism

    31. Wise Men

    32. Dumb Money

    33. Greider on Fed Board

    34. Give the Federal Reserve the Needed Tools

    35. Perversions of Capitalism

    36. Generic Capitalism

    37. Don't Blame Capitalism

    38. Worker Capitalism

    39. Help the Victims

    40. Reform Agenda

    41. Angry Enough?

    42. Educators: Real Reform Depends on You

    43. Citizens Agenda

    44. No More Recessions

    45. 2004 Dialogue with Adam Smith

    46. A Crossroad in Human History 

    47. Citizen Forum 

    48. Enlightenment II, The Integration of Knowledge for Social Progress

    49. Invest the Peoples’ Capital, or How the Government Corrupted Capitalism 

    50. Keynote Speech at Gardner High School, Gardner Mass  Jun 2006

    51. The Greatest Opportunity in Human History

    52. A Critical Opportunity for Educators

    53. Ultra-Capitalism is in the Way

    54. Environmental Needs

    55. Democratic Capitalism - A Team Sport

    56. Adam Smith: A World of Plenty 

    57. Free Wage Earners’ Capital!

    58. Stop Economic Cannibalism!

    59. Speculate with Your Own Money!

    60. Leadership to Economic Common Purpose

    61. Tax Incentives for Good Capitalism!

    62. Break the Political Gridlock!

    63. Listen to Henry!

    64. They’re Feasting on Your Pension! 

    65. Federal Reserve Board’s Mission

    66. American Leaders, Please Stand Up!

    67. Mother of All Lies

    68. Repeal the Repeal!

    69. A Nuclear Holocaust?

    70. Root Problem Solved

    71. Fix Education-Bottom-Up!

    72. Reaffirm Idealism!

    73. Job Growth or Casino?

    74. An Enron Protector

    75. Warning, Bad Storm Coming!

    76. Trust the People!

    77. Better Governance

    78. American Nightmare

    79. Citizens Choice

    80. It's The Economy Stupid!

    81. Freeing the Mind , Body, and Spirit

    82. Contempt for Generic Capitalism

    83. Class Warfare

    84. Wrong Focus

    85. Corporate Surplus: Cash Available for Growth Investment

    86. Grow Your Company

    87. Corporate Surplus-3

    88. Joe the Plumber: Biden vs Welch

    89. Skin in the Game

    90. Claw Back

    91. Alligators in the Swamp

    92. From N. Nohria, Dean of Faculty, Harvard Business School, to Ray Carey 1-31-13

    93. To N. Nohria, Dean, Harvard Business School, from Ray Carey 8-4-11

    94. To N. Nohria, Dean, Harvard Business School, from Ray Carey 5-9-11

    95. To N. Nohria, Dean, Harvard Business School, from Ray Carey 4-21-11

    96. To N. Nohria, Dean, Harvard Business School, from Ray Carey 4-11-11

    97. To N. Nohria, Dean, Harvard Business School, from Ray Carey 4-3-11

    98. To N. Nohria, Dean of Faculty, Harvard Business School 3-26-11

    99. Open Letter to the Intellectual Community, from Ray Carey 2-14-11

    100. To Msgr. R.M. Liddy, Seton Hall University, from Ray Carey 5-25-10

    101. To P. Gaffney II, President, Monmouth University, from Ray Carey 8-31-09

    102. To P. Gaffney II, President, Monmouth University, from Ray Carey 5-5-09

    103. To S.G. Rush, Pres. & CEO JA Worldwide, from Ray Carey 4-16-09

    104. To P. Gaffney, President, Monmouth University, from Ray Carey 3-9-09

    105. To M. Gooch, from Ray Carey 2-16-09

    106. To Sen. B. Obama, from Ray Carey 1-15-08

    107. To F. Marshall, from Ray Carey 8-26-07

    108. To H.M. Allison, CEO TIAA-CREF, From Ray Carey 5-10-07

    109. To H.M. Allison CEO TIAA-CREF, from Ray Carey 4-15-07

    110. Open Letter to Educators, from Ray Carey 3-16-07

    111. To Sen. B. Obama, from Ray Carey 3-13-07

    112. Open Letter to Political Candidates, from Ray Carey 3-6-07

    113. To Harvard Business School, from Ray Carey 2-9-07

    114. To D. Bok, President Harvard University, from Ray Carey 1-16-07

    115. To H.M. Allison, CEO TIAA-CREF, from Ray Carey 1-15-07

    116. To Principal M.R. Baldassarre, Gardner High School, MA, from Ray Carey 1-15-06

    117. To Msgr. R. Liddy, Dir. Center for Catholic Studies from Ray Carey 3-7-05

    118. From Ray Carey to Cato Institute 2-25-05

    119. From B. Morton to Ray Carey 11-14-04

    120. From C.T. Munger to Ray Carey 9-17-04

    121. From C. Huber to Ray Carey 8-3-04

    122. From J. Bogel to Ray Carey 7-19-04

    123. To The Inquirer and Mirror from Ray Carey 7-15-04

    124. From B. Greider to Ray Carey 6-10-04

    125. From W. MacMillan, Cargill Inc. to Ray Carey 11-3-03

    126. From R.C. Serfass, Associate Dean Academic Affairs, University of Minnesota to Ray Carey 8-28-03

    127. From R.W. Galvin to Ray Carey 4-4-01

    128. From J.C. Whitehead to Ray Carey 3-12-01

    129. To C.V. Prestowitz, President ESI, from Ray Carey 5-13-99

    130. From D. Dunlap, Dean, Hamline University, to R.V. Anderson, Phelps Dunbar LLP 12-10-96

    131. From R.V. Anderson, Phelps Dunbar Counsellors at Law, to Dean D. Dunlap, Hamline University 12-4-96

    132. To Senator J. Edwards, Dir. Center of Poverty, Work and Opportunity, UNC School of Law, from Ray Carey 4-25-96

    133. From M.W. Osheowitz, President, Edwin Gould Foundation for Children, to D. Dunlap, Dean, Hamline University 11-20-95

    134. From G. Maloney, to Dean D. Dunlap, Hamline University 11-20-95

    135. From G. Maloney, to Dean D. Dunlap, Hamline University 11-20-95

    136. To Ms. R. Herzlinger, Harvard Business School, from Ray Carey  7-27-95

    137. From R.H. McCaffrey, KLM Communications Inc. 5-30-95

    138. From R. Van Scotter, VP Education Marketing, Junior Achevment Natioanl Headquarters 1-27-95

    139. From R. Van Scotter, VP Education Marketing, Junior Achevment Natioanl Headquarters 1-27-95

    140. From M. Hartoonian, Supervisor of Social Studies Education, State of Wisconsin Department of Public Instruction 1-23-95

    141. From M. Hartoonian, Supervisor of Social Studies Education, State of Wisconsin Department of Public Instruction 1-23-95

    142. To J. Weinberg, Chairman, Goldman Sachs, from Ray Carey 1-30-90

    143. Hypothesis #1—The Ideal: A world of plenty is attainable on the basis of a superior economic system supported by the culture and the political structure.

    144. Validation of hypothesis #1 serves as the first building block for the improved organization in human affairs. The examination can then proceed to a definition of the superior economic system, hypothesis #2. 

    145. The superiority of democratic capitalism can be tested and verified in many ways, but how universal can it become?  Is it a “Western” phenomenon only?  What political structures are required for its success?  In hypothesis #3, I propose that it can be a universal system.

    146. In the later part of the twentieth century, the universal system of economic freedom was improving lives throughout the world.  The American government, however, reversed this momentum by making mistakes that escalated the traditional impediment of concentrated wealth into destructive ultra-capitalism. Hypothesis #4 describes this impediment.

    147. The fundamental conflict between finance capitalism and democratic capitalism in America goes back to the beginning of the republic when non-democratic privileges to make money on money flowed from many government officials who could be influenced or bribed. Since then, the neutral money needed for free markets to work well has been displaced by easy credit for speculators, and wild swings in the economy have been the result.  Removal of this impediment is the intent of hypothesis #5. 

    148. How could this Constitutional contradiction persist while democratic power was growing in a country “of the people, by the people, and for the people?”  The answer to this question is that the people’s elected representatives have not been reflecting the will and wisdom of the people; instead, the politicians have been influenced by the lobby power of Wall Street and the banking interests.  Liberal Democrats have also ignored the will and wisdom of the majority, and instead of reforming ultra-capitalism, they have concentrated political power to micromanage commerce and redistribute wealth. Hypothesis #6 is about the resulting political gridlock that impedes appropriate reforms. 

    149. This examination of the political gridlock raises yet more troubling questions: Why have reformers failed who had the democratic power to restructure government for the general welfare?  Why has this failure gone on for so long?  Why is this failure so profound that many have lost hope in the democratic process?  The answer is that whereas the Enlightenment grounded the ideal and the means on the proper truth-seeking process, successive generations of thinkers and managers have failed because they abandoned the process that is the focus of hypothesis #7. 

    150. At the turn of the millennium, the world was making the same mistakes it had made a century before.  Not only were our leaders failing to seize the opportunity to unite in economic common purpose but also they were going backwards economically and backwards to new forms of violence. The sad record of the 20th century validates hypothesis #7, that global social progress has been retarded by persistent and egregious mistakes that should have been avoided by the correct truth-seeking process. The common denominators in all of these errors were ignorance and arrogance in the otherwise bright minds of sincere people who nevertheless lacked understanding of economics, the management of change, and the structure needed before freedoms can become functional.  Among the first agents of change to employ the correct truth-seeking process in order to reconfirm the ideal and specify the means ought to be the universities; this is hypothesis #8. 

    151. Enlightenment II is the long-term way to peace and plenty that will gain positive momentum with each generation of students and citizens. Other agents of change, people who can press for reform more rapidly, are to be found among institutional investors, the concern of hypothesis #9. 

    152. The visible improvement in the lives of hundreds of millions of people will then set the stage for a steady reduction and eventual elimination of violence among people and nations. The United States is positioned to lead towards this economic common purpose and its promise of global social progress.  That ideal prospect, including cooperation with the United Nations in its mission to substitute law for violence, is the focus of hypothesis #10.



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.