Book Cover

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

Hard/Softcover/Kindle - 5 May, 2004, Available on Amazon.com

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 1:23

Ultra-capitalism is in the Way

This greatest opportunity in human history is provided by democratic capitalism, a moral system built on developing each to full potential in an environment of trust and cooperation and uniting the people of the world in economic common purpose. Adam Smith’s advised that economic freedom can run itself “in the natural course of things” if the government provided peace, neutral money, limited borrowed money for speculation, and prevented privileged capitalists from contradicting the public good. Smith’s conditions are violated as never before.

Ultra-capitalism can destroy this opportunity with concentrated wealth and unnecessary violence among nations. It is a combination of mercantilism that treats the worker as a disposable cost commodity, and finance capitalism that dominates the job growth economy with these negative effects:

This financialization of the American economy in the past quarter century follows the pattern of Spain in the 16th century, Netherlands in the 18th, and Great Britain in the 20th. In all cases it was a terminal condition.

Ultra-capitalism can be purged by limiting speculation with borrowed money, by  a capital wage in large dividends for the wage earner, and by changing money manager measurement of corporate performance from quarterly earnings to a three year average of sales growth, profits, and cash flow against management prediction.

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 11/15/2017

HANSOME ENERGY SYSTEMS INC.
November 14, 1995
Diane Dunlap
Dean, Graduate School
Hamline University

Dear Dean Dunlap:

I was very happy to hear about the plans for the “Carey Center” at Hamline University. It has been a source of much frustration to me that business concepts which I have seen working and which I admire have so little visibility in academia.

Ray Carey was Chairman of the Board and CEO of ADT Security Systems Inc. when I joined their Engineering Department in 1973. My specialty was Microwave Transmission Systems, and my previous employers were Bendix Navigation & Control Division and IT&T Avionics Div. Working at ADT was very different from working at either Bendix or IT&T.

ADT had a charter which was taken seriously. We, the employee-associates, were entrusted...

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