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 4:16


Subj:    Whitney MacMillan Msg
Date:    11/3/2003  11:16:08 AM Easter Standard Time

Hi Ray:

Flying back from Washington, D.C. recently I found the peace and quiet
and time to read your Chapter 10.  It’s a superbly laid out program
based on deep philosophic roots and common sense.  I hope it’s not too
esoteric for the average reader.

I share all your views about the need for democratic capitalism over
financial capitalism.  As you know, Cargill did an ESOP upon my
retirement.  This allowed illiquid shareholders a change to exit their
investment  while allowing the company to stay private.  My understanding is that current management is considering a second ESOP in the near future.

I also agree with your rationale toward short-term “it is” and the misallocation of resources through the float of the dollar and ERISA.  However, I have great difficulty being optimistic about the United Nations.  The governance of the organization did not anticipate the complications of 191 members (mostly equal).  In my view it’s impossible to lead the existing multilateral institutions out of their morass.  It might be possible to force them into reforming by withholding funding.

How is the publishing date coming?


    Whitney   (MacMillan)

(dictated but not read)

Sent By:
Mary Kindseth
Cargill, Incorporated

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

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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