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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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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