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 4:21



September 17, 2004

Mr. Raymond B. Carey, Jr.                                                     
Carey Center for Democratic Capitalism

Dear Mr. Carey:

Thank you for sending me a copy of your self-published autobiographical book, “Democratic Capitalism, The Way to a World of Peace and Plenty.”  I read it through in one sitting, ending in the early morning hours the following day.

Mostly, I agree with you.  I was much interested in your book and personal history coming as I did from roughly the same value system, experience base and generation as you.  Indeed, I followed roughly your educational path, with much self education through individually chosen reading, and I always shared your dismay with respect to formal education in leading universities as they deal with subjects outside hard science and biology.

Moreover, I am as horrified as you are by what you call “ultra capitalism”, with its hugh collection of talent seeking “croupier” type profits in derivatives trading, promotional investment funds and the most misleading parts of investment banking.

Nor am I charmed by McKenzie and other business consulting groups.  The McKenzie values did not limit their mischief to Enron and its ilk.  The troubles at Royal Dutch Shell were also helped along by a little known McKenzie stamp.  And McKenzie and its competitors, being big hirers if business school graduates, have influenced business school education in regrettable ways.
I wish you well.


                                                                         Charles T. Munger

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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