Book Cover

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

Hard/Softcover/Kindle - 5 May, 2004, Available on

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.

Most Recent Post

CCDC 11/29/2017

Updated on November 29, 2017

At the time of Mill, Marx and Engels educational material on the superior economic system was available. It was not used for the reasons described in this CCDC article.The result is a feeling in society that the economic standard and the quality of life should be better. They are right.

When most academician find that the title of the book that I wrote is Democratic Capitalism, the Way to a World of Peace and Plenty their frequent response was "Isn't that an oxymoron?" If I find one who will listen I explain that is is not an oxymoron and that the question indicates to me that the person who asked it is defaulting on their responsibility to add knowledge of a superior economic system for broader application.

Ray Carey

J.S. Mill’s Democratic Capitalism Manifesto

In mid 19th century John Stuart Mill, Karl Marx, and Friedrich Engels studied Robert Owen’s demonstration of substantially greater profits from investing in his workers, “vital machines” as he called them. The culture in his spinning mill was trust and cooperation which Owen cultivated through...

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