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 1:23

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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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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