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 4:15


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.

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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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