Introduction to Democratic Capitalism

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.

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This article describes the price/earnings P/E ratio that is now double the traditional level. The appropriate question is Why?
Message to Chris Hayes regarding MSNBC Stock buy-backs 6/11/2018
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
Good Capitsm vs. Bad Capitalism 1/25/2018
Review of Democratic Capitalism by Senior Women Web Culture Watch 12/22/2017
J.S. Mill’s Democratic Capitalism Manifesto 11/29/2017
To D. Dunlap, Dean, Hamline University, from S. Rosen, Pres. Hansome Energy Systems Inc. 11-14-95
To Dean D. Dunlap, Hamline University, from A.F. Reposi, Chairman & CEO Lavoratore indipendente 11-13-05
The Way to Peace and Plenty
Democratic Capitalism: The Way to a World of Peace and Plenty
Greed versus Growth
Hamilton’s Governors or Jefferson’s Governed
The Democratic Work Culture
Two reviews of Ray Carey's book, Democratic Capitalism, The Way to a World of Peace and Plenty
A CEO’s Dilemma
The Way to a World of Peace and Plenty
America’s Russian Policy
Jobs for everyone when these dots are connected
Capitalist Alternatives
Piketty’s Lament
Give the Federal Reserve the Needed Tools
Inequality of wealth
NY Times Article with Charlie Munger and Warren Buffett
An Agenda to Reform Capitalism
Wise Men
Dumb Money
Greider on Fed Board
Give the Federal Reserve the Needed Tools
Perversions of Capitalism
Generic Capitalism
Don't Blame Capitalism
Worker Capitalism
Help the Victims
Reform Agenda
Angry Enough?
Educators: Real Reform Depends on You
Citizens Agenda
No More Recessions
2004 Dialogue with Adam Smith
A Crossroad in Human History
Citizen Forum
Enlightenment II, The Integration of Knowledge for Social Progress
Invest the Peoples’ Capital, or How the Government Corrupted Capitalism
Keynote Speech at Gardner High School, Gardner Mass Jun 2006
The Greatest Opportunity in Human History
A Critical Opportunity for Educators
Ultra-Capitalism is in the Way
Environmental Needs
Democratic Capitalism - A Team Sport
Adam Smith: A World of Plenty
Free Wage Earners’ Capital!
Stop Economic Cannibalism!
Speculate with Your Own Money!
Leadership to Economic Common Purpose
Tax Incentives for Good Capitalism!
Break the Political Gridlock!
Listen to Henry!
They’re Feasting on Your Pension!
Federal Reserve Board’s Mission
American Leaders, Please Stand Up!
Mother of All Lies
Repeal the Repeal!
A Nuclear Holocaust?
Root Problem Solved
Fix Education-Bottom-Up!
Reaffirm Idealism!
Job Growth or Casino?
An Enron Protector
Warning, Bad Storm Coming!
Trust the People!
Better Governance
American Nightmare
Citizens Choice
It's The Economy Stupid!
Freeing the Mind , Body, and Spirit
Contempt for Generic Capitalism
Class Warfare
Wrong Focus
Corporate Surplus: Cash Available for Growth Investment
Grow Your Company
Corporate Surplus-3
Joe the Plumber: Biden vs Welch
Skin in the Game
Claw Back
Alligators in the Swamp
From N. Nohria, Dean of Faculty, Harvard Business School, to Ray Carey 1-31-13
To N. Nohria, Dean, Harvard Business School, from Ray Carey 8-4-11
To N. Nohria, Dean, Harvard Business School, from Ray Carey 5-9-11
To N. Nohria, Dean, Harvard Business School, from Ray Carey 4-21-11
To N. Nohria, Dean, Harvard Business School, from Ray Carey 4-11-11
To N. Nohria, Dean, Harvard Business School, from Ray Carey 4-3-11
To N. Nohria, Dean of Faculty, Harvard Business School 3-26-11
Open Letter to the Intellectual Community, from Ray Carey 2-14-11
To Msgr. R.M. Liddy, Seton Hall University, from Ray Carey 5-25-10
To P. Gaffney II, President, Monmouth University, from Ray Carey 8-31-09
To P. Gaffney II, President, Monmouth University, from Ray Carey 5-5-09
To S.G. Rush, Pres. & CEO JA Worldwide, from Ray Carey 4-16-09
To P. Gaffney, President, Monmouth University, from Ray Carey 3-9-09
To M. Gooch, from Ray Carey 2-16-09
To Sen. B. Obama, from Ray Carey 1-15-08
To F. Marshall, from Ray Carey 8-26-07
To H.M. Allison, CEO TIAA-CREF, From Ray Carey 5-10-07
To H.M. Allison CEO TIAA-CREF, from Ray Carey 4-15-07
Open Letter to Educators, from Ray Carey 3-16-07
To Sen. B. Obama, from Ray Carey 3-13-07
Open Letter to Political Candidates, from Ray Carey 3-6-07
To Harvard Business School, from Ray Carey 2-9-07
To D. Bok, President Harvard University, from Ray Carey 1-16-07
To H.M. Allison, CEO TIAA-CREF, from Ray Carey 1-15-07
To Principal M.R. Baldassarre, Gardner High School, MA, from Ray Carey 1-15-06
To Msgr. R. Liddy, Dir. Center for Catholic Studies from Ray Carey 3-7-05
From Ray Carey to Cato Institute 2-25-05
From B. Morton to Ray Carey 11-14-04
From C.T. Munger to Ray Carey 9-17-04
From C. Huber to Ray Carey 8-3-04
From J. Bogel to Ray Carey 7-19-04
To The Inquirer and Mirror from Ray Carey 7-15-04
From B. Greider to Ray Carey 6-10-04
From W. MacMillan, Cargill Inc. to Ray Carey 11-3-03
From R.C. Serfass, Associate Dean Academic Affairs, University of Minnesota to Ray Carey 8-28-03
From R.W. Galvin to Ray Carey 4-4-01
From J.C. Whitehead to Ray Carey 3-12-01
To C.V. Prestowitz, President ESI, from Ray Carey 5-13-99
From D. Dunlap, Dean, Hamline University, to R.V. Anderson, Phelps Dunbar LLP 12-10-96
From R.V. Anderson, Phelps Dunbar Counsellors at Law, to Dean D. Dunlap, Hamline University 12-4-96
To Senator J. Edwards, Dir. Center of Poverty, Work and Opportunity, UNC School of Law, from Ray Carey 4-25-96
From M.W. Osheowitz, President, Edwin Gould Foundation for Children, to D. Dunlap, Dean, Hamline University 11-20-95
From G. Maloney, to Dean D. Dunlap, Hamline University 11-20-95
From G. Maloney, to Dean D. Dunlap, Hamline University 11-20-95
To Ms. R. Herzlinger, Harvard Business School, from Ray Carey 7-27-95
From R.H. McCaffrey, KLM Communications Inc. 5-30-95
From R. Van Scotter, VP Education Marketing, Junior Achevment Natioanl Headquarters 1-27-95
From R. Van Scotter, VP Education Marketing, Junior Achevment Natioanl Headquarters 1-27-95
From M. Hartoonian, Supervisor of Social Studies Education, State of Wisconsin Department of Public Instruction 1-23-95
From M. Hartoonian, Supervisor of Social Studies Education, State of Wisconsin Department of Public Instruction 1-23-95
To J. Weinberg, Chairman, Goldman Sachs, from Ray Carey 1-30-90
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 Carey