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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    Carey Center Mission:

    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.


    145. Rejection 2/7/2018

    144. Good Capitalism vs. Bad Capitalism 1/25/2018

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

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

    141. Letter to Dean Dunlap, Hamline University 11/15/2017

    140. Letter to Dean Dunlap, Hamline University 11/9/2017

    139. The Way to Peace and Plenty

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

    137. Greed versus Growth

    136. Hamilton’s Governors or Jefferson’s Governed

    135. The Democratic Work Culture

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

    133. A CEO’s Dilemma

    132. The Way to a World of Peace and Plenty

    131. America’s Russian Policy

    130. Jobs for everyone when these dots are connected

    129. Capitalist Alternatives

    128. Piketty’s Lament

    127. Give the Federal Reserve the Needed Tools

    126. Inequality of wealth

    125. NY Times Article with Charlie Munger and Warren Buffett

    124. An Agenda to Reform Capitalism

    123. Wise Men

    122. Dumb Money

    121. Greider on Fed Board

    120. Give the Federal Reserve the Needed Tools

    119. Perversions of Capitalism

    118. Generic Capitalism

    117. Don't Blame Capitalism

    116. Worker Capitalism

    115. Help the Victims

    114. Reform Agenda

    113. Angry Enough?

    112. Educators: Real Reform Depends on You

    111. Citizens Agenda

    110. No More Recessions

    109. 2004 Dialogue with Adam Smith

    108. A Crossroad in Human History 

    107. Citizen Forum 

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

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

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

    103. The Greatest Opportunity in Human History

    102. A Critical Opportunity for Educators

    101. Ultra-Capitalism is in the Way

    100. The Greatest Oportunity in Human History

    99. Democratic Capitalism - A Team Sport

    98. Adam Smith: A World of Plenty 

    97. Free Wage Earners’ Capital!

    96. Stop Economic Cannibalism!

    95. Speculate with Your Own Money!

    94. Leadership to Economic Common Purpose

    93. Tax Incentives for Good Capitalism!

    92. Break the Political Gridlock!

    91. Listen to Henry!

    90. They’re Feasting on Your Pension! 

    89. Federal Reserve Board’s Mission

    86. American Leaders, Please Stand Up!

    85. Mother of All Lies

    84. Repeal the Repeal!

    83. A Nuclear Holocaust?

    82. Root Problem Solved

    81. Fix Education-Bottom-Up!

    80. Reaffirm Idealism!

    79. Job Growth or Casino?

    78. An Enron Protector

    77. Warning, Bad Storm Coming!

    76. Trust the People!

    75. Better Governance

    74. American Nightmare

    73. Citizens Choice

    72. It's The Economy Stupid!

    71. Freeing the Mind , Body, and Spirit

    70. Contempt for Generic Capitalism

    69. Class Warfare

    68. Wrong Focus

    67. Corporate Surplus: Cash Available for Growth Investment

    66. Grow Your Company

    65. Corporate Surplus-3

    64. Joe the Plumber: Biden vs Welch

    63. Skin in the Game

    62. Claw Back

    61. Alligators in the Swamp

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    10. 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.

    9. 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. 

    8. 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.

    7. 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.

    6. 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. 

    5. 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. 

    4. 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. 

    3. 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. 

    2. 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. 

    1. 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.