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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The Democratic Work Culture

Updated on December 16, 2014

In my book Democratic Capitalism, I propose (in the sub title) that The Way to a World of Peace and Plenty is through the democratic work culture in which each worker is trained and motivated to reach potential.

Robert Owen, at the beginning of the 19th century, demonstrated in his spinning mill that superior performance results from worker participation. Marx and Engels, a half-century later, saw that this culture provides workers with an opportunity to reach their potential. The insights of Owen, Marx, and Engels, however, were rejected and they were forced to seek political measures to democratize the work culture. Companies, with leaders like Robert Owen, regularly identify superior performance from such a work culture but the intellectual community continues to demean generic capitalism, while ignoring examination of the democratic alternative.

From the beginning of my work experience, I became convinced of the benefits of cooperation between labor and capital. The work culture that resulted from this approach is described by two managers who worked with me. Al Reposi was the sales manager at Electro Dynamic where I was plant manager and president for twelve years. Selma Rossen was a regional general manger and V.P. Engineering at ADT, Inc. where I was CEO and Chairman for eighteen years. They are the authors of the following letters in support of the Carey Center for Democratic Capitalism.

Note Selma’s reference to ADT’s no lay off policy. This commitment to job security was an important contributor to the democratic work culture. ADT had the market growth opportunities and made good use of attrition to avoid lay offs while many were bragging about “downsizing” thousands.

Reposi Letter

Rossen Letter

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

Updated on December 2, 2014

One of the themes of this work is that the educational community has not examined the available capitalist alternatives. For this reason, despite its superior benefits, democratic capitalism has grown too slowly.

This disinterest in capitalist alternatives prompted me to write Democratic Capitalism, the Way to a World of Peace and Plenty. A book by an ex-CEO with such a bold sub title, however, had little appeal for university professors.

Among the reviews that were written, one was by Julia Sneden, long time ‘Resident Observer” at Senior Women Web (May 2005) with a headline commending the book as “fascinating, important, erudite, a book that leads the reader through the history and development of capitalism making a clear case for what needs to be done in the future.”

Another review by Keith Wilde, fellow of CACOR (Committee for Monetary and Economic Reform 2005 Comer Publications) summarized that the book is “ unusual and unusually important, the most comprehensive and persuasive case yet for the idea of broad ownership and the best account of mechanisms for achieving it.”

These two reviews appear below, one by a person with no economic background but an interest in human progress, the other by a Ph. D. with unique understanding of capitalist alternatives.

Democratic Capitalism is still not being examined as the alternative to exploitive capitalism with its unemployment and stagnant wages. Most citizens know from experience that something is fundamentally wrong but they need broader education to understand solutions. Julia Sneden concludes her review with this suggestion: “Democratic Capitalism is an important book. When you’ve read the book, you might want to consider sharing it with your Congressman or Senator, who would probably thank you for it.”

Click here for full reviews





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