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 2:26

Contempt for Generic “Capitalism”

A comfortable feeling to avoid studying alternatives

Owen, the democratic capitalist, cut the hours at his spinning mill to ten and was lobbying Parliament to limit hours for workers under 18 to 10 ½, to prohibit children younger than 10 from factory work, and older children from working on the night shift.  As part of his research he visited many operations with his son who wrote this about the work culture of mercantilism:

Greed of gain had impelled the mill-owners to greater extremes of inhumanity, utterly disgraceful to a civilized nation. Their mills were run fifteen hours a day with a single set of hands, and they did not scruple to employ children of both sexes from the age of eight. Overseers carried stout leather thongs, and we frequently saw even the youngest children severely beaten. In some large factories one-fifth of the children were either cripples of otherwise deformed by excessive toil or brutal abuse.1

This mercantilist culture contributed to an ugly perception of generic capitalism. Unfortunately, educators did not respond to the empirical evidence of Robert Owen or the writings of Mill, Marx and Engels and have yet to study the alternatives. Professors with this cultural conditioning still respond to “democratic capitalism” with: “Isn’t that an oxymoron?”


1 Robert Dale Owen, Threading My Way (New York:Augustus Kelley), First edition 1874, reprinted 1967, p, 126.

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

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

Updated on Jan 11, 2017

For some time there has been a general feeling that there is something wrong with the American economy. There is: the domination by finance capitalism slows growth and keeps millions from good jobs.

The solution: Democratic Capitalism, was described in my book but it was rejected by publishers and received no reviews. I published and distributed it at my expense but in time the following leaders of industry and education confirmed the solution. 

Click here for the full post