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 2:12

Repeal the Repeal !

Was anyone watching in 1999 when Glass-Steagall was repealed? This law was passed during the Great Depression because bankers were giving companies easy credit to do dumb things in order for their investment bankers to get deals with big fees.

The monster financial services company, Citi, demonstrated Wall Street’s lobby power when it was put together in anticipation of the repeal and with other big banks immediately gave Enron easy credit to do dumb things in order for their investment bankers to get deals with big fees.

Enron, the hedge fund on top of a gas line, was free to quadruple debt in five years to $13.6 billion. Alan Greenspan, head of the Fed, told Congress meanwhile that hedge funds do not need regulation because they get money from regulated banks (and he wasn’t even kidding).

After Glass-Steagall was repealed, thousands of Enron’s employees lost their jobs and pensions, and many others lost pension savings. Where is the democratic demand to repeal the repeal?  Citizens should, at least, demand that their government regulate hedge funds before more jobs and pensions are destroyed.

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.


Most Recent Post

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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