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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Course 1:22

A Critical Opportunity for Educators

Democratic capitalism can be the engine that drives the world to peace and plenty but it needs the universities to research supportive public policy, to train leaders, and educate citizen. A new generation will learn that broad distribution of wealth from ownership participation can eliminate the impediment of concentrated wealth; that violence can be displaced by economic common purpose; and that all wars are obscene aberrations caused by a few arrogant and ignorant men. The vision of the Founders to substitute the “will and wisdom” of educated citizens filtered by an “aristocracy of talent and virtue” for the mistakes of the few will become reality. Aided by modern communication, young people in all other cultures, including Muslim, will choose freedom and comfort as the alternative to tyranny. While democratic capitalism needs support from the university, the university needs democratic capitalism to fill its moral vacuum and to position it to unite and elevate.

Universities left their moral certainty from religious associations after the Civil War and have yet to find a secular alternative. Since the 1960s, political correctness, relativism, and abandonment of idealism have provoked many books by professors, presidents and deans. This fundamental confusion of purpose in academia is illustrated by the following:

Derek Bok, the president of Harvard University, lamented that in twenty years of  faculty meetings he never heard any discussion of how to educate students to become better citizens, concluding that “the results of that neglect are all too visible.”  Stanley Fish, former Dean of the College of Liberal Arts and Sciences at the University of  Chicago, disagreed stating that “The task of educating students to be better citizens would replace the true task of academic work: the search for truth.” 

Harvard professor John Rawls wrote widely read books on “liberalism” until he declared defeat and walked off the field: “Whether there is or ever was such an Enlightenment project (finding a philosophical secular doctrine, one founded on reason and yet comprehensive) we need not consider it, for in any case political liberalism, as I think or it, has no such ambitions.” Another Harvard professor, Edward Wilson, disagreed: “I believe that the Enlightenment thinkers of the 17th and 18th centuries got it mostly right the first time. The assumption they made of a lawful material world, the intrinsic unity of knowledge, and the potential of indefinite human progress are the ones we still take most readily to our hearts.” 

Rawls was a philosopher looking for political solutions; Wilson, a scientist like the 18th century thinkers, who transfer the truth seeking protocols of science to the study of human progress. Wilson suggested that the culture war in academia would end if each regarded the differences not as a boundary but as unexplored terrain needing cooperative entry from both directions.

Out Founders emphasized universal education as prerequisite to the success of their democratic experiment. Universities, however, did not now give students the academic freedom to examine the alternative of democratic capitalism, nor did they respond to the challenge from John Locke: “God who hath given the world to humans in common, hath also given them reason to make the best use of it for life and convenience.” The  Enlightenment studied Lord Bacon’s process to avoid four potential errors in truth seeking. While universities claim to teach students how to think few students have the opportunity to examine what these errors are and how the Enlightenment neutralized them.

Enlightenment II should address these impediments:

After professors discover democratic capitalism they will become excited by its capacity to break the political grid lock; to end the culture war; and to present a secular morality consistent with religion and humanism. Once unleashed by the educators this powerful force can improve all lives and displace violence with economic common purpose.

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.

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CCDC 2/7/2018 - Rejection

Updated on February 8, 2018

Owen decentralized to the work station and let the workers run their jobs. This was the key to motivate the workers to produce and innovate more. It required a management that understood the philosophy and were trained and motivated in it themselves. The Mercantile philosophy, however, was still one of maximizing profits by suppressing wages and benefits. In contrast, Owen's capitalism added worker income that was spent to the benefit of economic growth called the "multiplier effect".

Owen understood that the "intellectual" community demeaned his proposals. Early in the 19th century Owen had demonstrated the capitalism in which capital and labor were synergistic.Owen also identified the intellectual negative attitude towards capitalism that continues to the present.

This is still the challenge to the intellectual community to study the alternatives in capitalism in order to promote the one that maximizes the amount of wealth and distributes it broadly.

Owen joined the Manchester Literary and Philosophical Society. Its members were the elite of the town whose manners had been acquired in respected schools. In their company Owen never forgot his origins: 

I was yet but an ill-educated awkward youth, strongly sensitive to my defects of education, speaking ungrammatically, a kind of Welsh-English …I felt the possession of ideas superior to my power of expressing them, and this always embarrassed me with strangers, and especially when in the company of those who had been systemically...

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