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.


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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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