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 4:22


Subj: Democratic Capitalism
Date: 11/14/2004 12;33;02 PM Eastern Standard Time
From: BallardMorton
To:     Careydcntr

Dear Ray,

I finally decided to sit down and read your book.  I just completed it and wanted to let you know how impressed I am.  It’s an extraordinary accomplishment, and I gained much insight from reading it—and studying it.  What a marvelous legacy you have left.

I was so pleased that you put so much of yourself into the book.  The story of your own career was revealing and meaningful.  It gave authenticity to the rest of the book.  I had previously read your draft of the play and found the final version engrossing, poignant, and saddening.

I had never seen your account on the Enron debacle before and found it the most complete analysis that I have read.  Your explanation of ultra-capitalism makes so much sense.  I just did not realize how much Wall Street has been able to dominate us.

Peter Drucker is one of my favorite writers.  His work was one of the pillars of my class.  So I particularly agreed with your references to his writing.  Condorcet was unfamiliar to me, and I thank you for introducing him to me.

Finally, I agree with you on the doctrine of preemption and the danger of the neocon ideologues.  I am a lifelong Republican, but I could not support Bush.  I am deeply concerned about America’s role in the world and the future of our grandchildren.  Your message and proposals offer hope, but I’m afraid that we are too interested in easy, short-term solutions.

I salute you for your magnificent effort.  It is work that should be of great pride for you and your family.  I am so  pleased to be listed in the Acknowledgements.

All the best,


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 12/22/2017

Updated on December 29, 2017

Democratic Capitalism-- Book Review

Julia Sneden based her review of Democratic Capitalism on her reading as I had no communication with her. Her review supported my premise based on fifty years experience running companies that democracy and capitalism should be synergistic not in conflict as most academicians believed. This will be examined further in the next Carey Center article “Good Capitalism vs. Bad Capitalism.”

Review of Democratic Capitalism by Senior Women Web
Culture Watch

Democratic Capitalism is a fascinating, important, erudite book that leads the reader through the history and development of capitalism making a clear case for what needs to be done in the future.

This fascinating, important, erudite book is not an easy, weekend read, nor a book you’d like to take on vacation for a beach read. It requires patience and hard thinking. Fortunately, it is written in a clear, accessible style that leads the reader, step by careful step, through the history and development of...

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