Book Cover

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


 

An Enron Protector

After Enron and other scandals, Congress passed Sarbanes-Oxley, a typical “catch a crook” law that adds cost and solves little. Government’s own failure to control currency and credit for the general welfare allowed these disasters to happen. Only by limiting easy credit can they be prevented.

This has been the cause for every business cycle because your government treats money needed for job growth the same as money used for speculation. Why? Concentrated wealth concentrates political power; the former corrupts capitalism, the latter corrupts democracy by writing rules that privilege the few.

When government’s mission becomes truly the protection of jobs and pensions, it will use bank regulation to encourage job growth and limit risky speculation. When companies are required to project cash requirements for three years, the lack of control of speculation will become apparent and the brakes applied by increasing the cost of money and bank reserves.

Wage earners should demand that their elected representatives and money managers limit easy credit to protect jobs and pensions.

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.