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 4:35


Ray Carey
PO 103
Nantucket, MA 02554

August 26, 2007

Mr. Frank Marshall

Dear Frank,

Thanks for sponsoring me for the 2008 Sanctae Crucis award.  I contacted Barbara Dean in Frank Vallachio’s office once to get the forms but assume that I should now fade into the background and let you carry the ball. I did send Barbara two copies of my book. Your suggestion that Tom Costello might be willing to help is interesting but I will leave it up to you to find out from Barbara if more than one sponsor is appropriate.

The package attached may look like overkill but I will defer to you on what gets into the package that you send to Holy Cross. As you can see the material covers my career at Electro Dynamic and ADT, my educational activities with Junior Achievement, my Carey Scholars, and my book Democratic Capitalism, The Way to a World of Peace and Plenty.

If, with your help, I qualify for the award I will use it to continue my efforts to get people to read my book. I am convinced that economic freedom, including Smith’s conditions, can eliminate material scarcity in the world; and that the only way to stop the violence is to unite in economic common purpose.
Dennice and I would be pleased if you and Lois could visit us here on Nantucket. We will be here at least until the end of September..


Ray Carey  

Holy Cross 1948, elected to Alpha Sigma Nu,  member of Fitton Society                                  
Harvard Business School, MBA 1950

The attached material includes:

  1. Biography from web site
  2. Book Review by Julia Sneden
  3. 1/15/06 letter to Gardner High School principal with background for first GHS Hall of Fame for superior achievement. One of three elected in September ‘06
  4. Letter from Sr. Margaret Ryan, President of Aquinas High School inviting me to a dinner to accept their Veritas Friends Award in May ‘06
  5. Keynote address at Gardner High School graduation-June ‘06
  6. John Whitehead, former Co-Chair of Goldman Sachs and Deputy Secretary of Sate in the Regan administration letter about Carey’s  career and book.
  7. Mike Osheowitz, Chairman of the Gould Foundation letter on ADT and his opinion of Ray Carey
  8. Michael Hartoonian, Ph.D. testimonial on Carey’s book
  9. Al Reposi letter on the Electro Dynamic experience Carey was Plant Manager from 1956 to 1960 and then General Manager and President until 1966
  10. Selma Rossen letter about the ADT work culture. Carey was President, CEO and Chairman from 1970 until 1988.
  11. Sample letters from Carey scholars

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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