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 2:7

Listen to Henry!

Capitalism succeeds when DEMAND from higher wages for low and middle-income workers matches SUPPLY.  Purchases at this income level add volume, reduce cost and price, and spread wealth- an economic dynamic not matched by more wealth for the wealthy.

Henry Ford, watching his Model T cars rolling off the assembly line in 1915, figured out that unless he raised his workers’ wages way up to $5 a day, they could not afford to buy the cars because DEMAND would not match SUPPLY and sales would drop.

Globalization can unite the world in economic common purpose, but it has become a dirty word because most managers of global companies aren’t as smart as Henry. They try to maximize short-term profits by suppressing wages and benefits, not by motivating  workers to long-term superior performance with higher wages.

Globalization will be a source of friction until global companies pay enough, including incentives, so that workers can both cover basic needs and have money left over to buy products from other countries.

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 11/15/2017

HANSOME ENERGY SYSTEMS INC.
November 14, 1995
Diane Dunlap
Dean, Graduate School
Hamline University

Dear Dean Dunlap:

I was very happy to hear about the plans for the “Carey Center” at Hamline University. It has been a source of much frustration to me that business concepts which I have seen working and which I admire have so little visibility in academia.

Ray Carey was Chairman of the Board and CEO of ADT Security Systems Inc. when I joined their Engineering Department in 1973. My specialty was Microwave Transmission Systems, and my previous employers were Bendix Navigation & Control Division and IT&T Avionics Div. Working at ADT was very different from working at either Bendix or IT&T.

ADT had a charter which was taken seriously. We, the employee-associates, were entrusted...

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