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 2:2

Stop Economic Cannibalism!

That capitalism, whose mission is making money on money, rather than job growth, now dominates the American economy because of the stock market’s power to richly reward or severely punish companies based on small changes in quarterly earnings per share (e.p.s.). Enormous stock options are the coupling device between the stock market and CEOs that results in a feeding frenzy in compensation, sacrifice of profitable, long-term growth programs for short-term earnings, and the “downsizing” of millions of workers, treated as disposable cost commodities.

The solution to this economic cannibalism is deceptively simple. Wage earners should demand that money managers change the way companies are measured from short-term earnings per share to a three-year running average of sales growth, profits, and cash flow, compared to managements’ predictions. Accountability for sales shifts attention to long-term growth; and focus on cash flow against predictions assures integrity in the numbers. For example, this cash flow discipline would have identified the cancer at Enron early enough to minimize the damage to 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.


Most Recent Post

CCDC 12/22/2017

Updated on December 29, 2017

Democratic Capitalism-- Book Review

Julia Sneden based her review of Democratic Capitalism on her reading as I had no communication with her. Her review supported my premise based on fifty years experience running companies that democracy and capitalism should be synergistic not in conflict as most academicians believed. This will be examined further in the next Carey Center article “Good Capitalism vs. Bad Capitalism.”
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Review of Democratic Capitalism by Senior Women Web
Culture Watch

Democratic Capitalism is a fascinating, important, erudite book that leads the reader through the history and development of capitalism making a clear case for what needs to be done in the future.

This fascinating, important, erudite book is not an easy, weekend read, nor a book you’d like to take on vacation for a beach read. It requires patience and hard thinking. Fortunately, it is written in a clear, accessible style that leads the reader, step by careful step, through the history and development of...

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