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 4:13


John C. Whitehead
Park Avenue Tower

March 12, 2001

Mr. Raymond B. Carey, Jr.
34 Browns Dock Road
Locust, New Jersey 07760

Dear Ray:

           I am so very impressed with your book! I had known that you were an excellent businessman and an excellent CEO but I had not known that you had the really remarkable academic qualities that shine so brightly in the book. You were modest about your “style” of writing but I find it to be simple, clear and very understandable. You make complicated subjects sound simple and comprehensible. Most of all I admire your steadfastness - - writing a book like this is no mean chore. It takes many hours, many days, many months of hard grinding work. I certainly admire your ability to stick to it and get it done. As to the content, you’ve really done some pioneering thinking, combining your life of practical experience with some old theories and arriving at some really new and very refreshing conclusions.  Best of all, I agree with almost every point you make.

      As you can see, I am quite a fan. I’m delighted to write a “blurb” for you. How about:

“This unusual book by successful American CEO is well worth reading. It analyzes our economic free enterprise systems and our entire society in a most unique way and explains a lot about why it works so well and how it could work better”

      I’d be delighted to say that or anything else that’s complimentary. You may not want to decide until you see what other have to say. As far as I’m concerned, you have my proxy. I’m not quite ready to say you deserve the Nobel prize in economics yet, but I can’t wait for Book II.

With great respect and warm regards,


John C. Whitehead


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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