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 4:17


Subj:      Re: Democratic Capitalism
Date:      6/10/2004  12;12;04 PM Eastern Daylight Time

Sent from the Internet (­Details)

Dear Ray—Congratulations!  And apologies for my tardy reply.  I ordered your book myself and am now reading it fresh—start to finish—an I express my great admiration for what you have accomplished (I also love your Grandson on the cover).  So share the copy with someone else, while I keep reading and learning.

Then we need a longer conversation on the road ahead.  Lately, I have been mainly engaged with my day job at the Nation (writing about our failed president) but still intend to keep promoting the ownership ideas before anyone who will hear me.  Are you doing the same?  I hope so.  You have a powerful message and the authentic credentials to be taken seriously.

In recent months, I have encountered both promising and disappointing responses, the latter especially among liberals who typically don’t understand capitalism and are intimidated by the subject.  Your voice can be especially meaningful in bringing around such good people, helping them out of the fog.  If I can help, let me know.

Meanwhile, my sincere congratulations again.  As one who has slogged through the writing of long books, I know the costs, but I also know the rewarding satisfactions, regardless of how the marketplace responds.  You must be feeling good right now.  You have created something of value that will be important and enduring—a book that helps others to understand our circumstances more deeply and perhaps gives them the courage to engage in changing the future.  That’s a helluva contribution.  Someday hence your Grandson will read it too and feel very good about you and himself!

My best regards, Bill Greider


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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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...

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