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.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Course 4:15


Subj:         Democratic Capitalism
Date:         8/28/2003  10:32:10 PM Mountain Daylight Time
Sent from the Internet (Details)

Dear Ray:

            Thanks so much for your e-mail of 8/18 and the copy of Chapter 10 on your book on Democratic Capitalism. When I opened it and began reading I couldn’t put it down without completing it. I was absolutely amazed at how your chapter systematically outlined virtually all of the concerns I have had as an average person who tries to keep up with how government, business, financial, and educational institutions interact to try to meet the needs of the citizens of the wealthiest country in the world. I think my observations clearly fall in line with yours, which is, that the systems we have put in place have resulted in a massive concentration of wealth for the few rather then a fair and equitable distribution for the many. Although my involvement with trying to support Michael Hartoonian has been relatively short, I am particularly excited about his thought on how we might construct a curriculum that would inform citizens at every educational level about what you refer to near the end of your chapter as “economic common purpose.” We have already set up a series of meeting times for colleagues in the college identified by Michael to meet and discuss issues of goals, support, curricular development and involvement of a broader constituency. He is doing a great job of moving this initiative along and I personally believe that this can be the beginning of an educational movement that is long overdue. I am sure that Michael will keep you posted on our progress and can put you in touch with individuals who will want a more direct involvement in the process. Now that the most hectic period of starting a new semester is over I need to get to your website to read the whole book. Thanks again for a thoroughly enjoyable read and I also look forward to meeting you in due course. Bob Serfass

Robert C. Serfass
Associate Dean for Academic Affairs
College of Education and Human Development
University of Minnesota

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.

Most Recent Post

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...

Click here for the full post