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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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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