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 4:36


Carey Center for Democratic Capitalism
January 15, 2008

Senator Barack Obama
713 Hart Senate Office Building
Washington, D C  20510

Dear Senator Obama:

My attached letter of March 13, 2007 called attention to your pathetic economic agenda along with real reform proposals. Included was a copy of my book Democratic Capitalism, The Way to a World of Peace and Plenty, reference to my web site, and a check for $1,000.

The sub prime mess and recession were accurately predicted in my letter along with ways to position you with solutions in anticipation of these events. Unfortunately my letter did not get attention and now your campaign is losing momentum because of a weak economic agenda. For example, Paul Krugman’s editorial in the New York Times January 14, 2008 commented: “The Obama campaign’s initial response to the latest wave of bad economic news was, I’m sorry to say, disreputable.” After criticizing your tax proposals, Krugman added: “ I know that Mr. Obama’s supporters hate to hear this, but he really is less progressive than his rivals on matters of domestic policy.” Ouch!

It is not too late to read my letter. The analysis and proposals have been validated by events during the last ten months. You have the character to reposition our country from bully of the world to team player but need democratic capitalism to solve the concentration of wealth problem domestically and become the American priority abroad adding momentum towards economic common purpose, the only way to stop the violence.      

I would be happy to meet with you or your associates anytime.

Ray Carey

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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