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 2:25

Freeing the Mind, Body, and Spirit

Freeing the mind during the 18th century produced the technology of the Industrial Revolution. Increased productivity then freed the body of primitive needs but it was the cooperative work culture that freed the spirit to add substantial wealth. This was demonstrated early in the 19th century by Robert Owen in his spinning mill near Glasgow and examined in mid-century by John Stuart Mill:

The other mode in which cooperation tends to increase the productiveness of labor, consists in the vast stimulus given to productive energies, by placing the laborers in a relation to their work to make it their principle interest—at present it is not—to do the utmost, in exchange for their remuneration.  It is scarcely possible to rate too highly this material benefit, which yet is nothing compared to the moral revolution in society that would accompany it; a new sense of security and independence; and the conversion of human’s daily occupation into a school of the social sympathies and the practical intelligence.1

Marx and Mill wrote about this work place culture in mid 19th century that encouraged all workers to rach their potential.  This is the capitalism that is yet to be found by most educators.

1 John Stuart Mill, Principles of Political Econom,with Some of Their Applications to Social Philosophy (Fairfield, New Jersey: Augustus M. Kelley,1987), p. 789.

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

Capitalism produces wealth from market freedom and competition, democratic capitalism maximizes wealth from worker participation. Their sharing in the improvement sustains motivation and adds consumer income that increases economic growth. The value system is trust and co-operation, the impediments are mal-distribution of wealth and violence among nations and people.

Surplus wealth was built by firing workers engaged in growth programs and by not increasing wages for productivity gains. Corporations avoiding taxes left $6 trillion of this surplus sitting in foreign accounts. The distribution of this surplus depends on a critical Board decision. It should be returned to the workers in wages, dividends, and profit sharing that add to economic growth, but managers influence Boards to repurchase shares to hype the value of options while hurting economic growth.

The workers are now capitalists through their pension funding, but they are not yet organized to influence policy. Finance capitalism continues to dominate the economy and influence politicians. Reformers who should correct this capitalist perversion do not understand wealth production from democratic capitalism; instead they concentrate on the political structure that distributes wealth.

CCDC June 27, 2017

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