Book Cover

Capitalism,  The Way to a World of Peace and Plenty
by Ray Carey

Hard/Softcover/Kindle - 5 May, 2004, Available on

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 2:6

Break the Political Gridlock!

FDR observed that there was nothing wrong with the free enterprise system except that we had not tried it yet.  Unfortunately, we have yet to try it because of  political gridlock.  Market fundamentalists, generally Republicans, loudly oppose government involvement while lobbying for government privileges to speculate with borrowed money and concentrate wealth. Collectivists, generally Democrats, angered by this wealth concentration, lobby government to redistribute it in benefits. Each group sustains support by pointing out errors of their opposite.

Neither group focuses on eliminating impediments that prevent capitalism from generating more wealth and distributing it broadly, such as limiting easy bank credit for speculation that caused loss of jobs, wages, and pensions in disasters like Enron; activating the workers’ pension and 401 (k) savings by large tax-free dividends; and changing corporate accountability from short-term earnings to long-term growth.

Citizens can apply their democratic power to reform these government fiscal and monetary policies, and to assure that their money managers’ mission is not personal gain but, rather, maximum return for the workers. 

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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CCDC 2/7/2018 - Rejection

Updated on February 8, 2018

Owen decentralized to the work station and let the workers run their jobs. This was the key to motivate the workers to produce and innovate more. It required a management that understood the philosophy and were trained and motivated in it themselves. The Mercantile philosophy, however, was still one of maximizing profits by suppressing wages and benefits. In contrast, Owen's capitalism added worker income that was spent to the benefit of economic growth called the "multiplier effect".

Owen understood that the "intellectual" community demeaned his proposals. Early in the 19th century Owen had demonstrated the capitalism in which capital and labor were synergistic.Owen also identified the intellectual negative attitude towards capitalism that continues to the present.

This is still the challenge to the intellectual community to study the alternatives in capitalism in order to promote the one that maximizes the amount of wealth and distributes it broadly.

Owen joined the Manchester Literary and Philosophical Society. Its members were the elite of the town whose manners had been acquired in respected schools. In their company Owen never forgot his origins: 

I was yet but an ill-educated awkward youth, strongly sensitive to my defects of education, speaking ungrammatically, a kind of Welsh-English …I felt the possession of ideas superior to my power of expressing them, and this always embarrassed me with strangers, and especially when in the company of those who had been systemically...

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