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 4:39


April 16, 2009
Mr. Sean G. Rush
President and CEO
JA Worldwide

Dear Mr. Rush:

JA is positioned to make an important contribution to the economic literacy needed for reform with the mission, the infrastructure, and the motivation. My work can help with the curriculum about the alternative to the economic system that has devastated the world’s economy.  The alternative is democratic capitalism but it has no visibility in education and for that reason Wall Street has been free to dominate and destroy. After 25 years as CEO of NYSE companies I spent 20 years analyzing the economic-political system. My curriculum is the product of that work that stimulated the attached testimonials.

In the 1990s I gave JA $25,000 in support of the integration of democratic capitalism into your curriculum. In August of 2005 I met with your predecessor, Jack, and other JA officials for further discussions. My efforts with colleges and universities to get an interest in democratic capitalism were not successful consequently I developed my own curriculum which begins with the “Introduction to Democratic Capitalism” on website Also announced recently is an essay contest with five $500 prizes that could be used as a motivator for your students around the world.

My background with JA began with teaching in the lower east side of New York, member of the New York Board, member of the National Board for many years, and efforts to stimulate interest in democratic capitalism. This time. I am not presenting theory about an alternative, but rather a curriculum that could be used and improved by JA . Besides the Introduction there are many other materials on the website including a DVD with 16 six minute segments, my book Democratic Capitalism, the Way to a World of Peace and Plenty, and other books and articles for deeper study.

Liberal Arts education sensitizes students to the human condition but does not present the economic system to improve it.  Economics and Business Schools were both distracted by the short-term and greedy capitalism in which the price of the stock was dominant. Most educators treat generic capitalism with contempt and discharge democratic capitalism as an oxymoron. Students do not learn how to neutralize the lobby power of Wall Street, and journalists do not learn how to inform the public.

I hope that you and Jack can read the 17 articles that make up the “Introduction.” They can be modularized for elementary, middle, and high school. For example, students first view of Adam Smith can be the man who wrote about social cooperation, not an apologist for greed. Robert Owen left his home in Wales at age ten to “push his fortune.” His later quotes on the system that can eliminate material scarcity by investing in people in contrast to the brutal treatment of 8 year-old kids on the night shift can provide clear understanding of the conflict in capitalism. Similarly, that integrator of Enlightenment knowledge, Condorcet, wrote eloquently about improving the human condition while waiting to die during the Reign of Terror. An understanding of Marx’s visions, and why the Marxists could not implement them, can counteract the superficial treatment of political-economic theory that has grid locked both our government and our intellectual community.

Your powerful international infrastructure can present capitalism with the moral basis of worth of the individual and an environment of trust and cooperation. Young people from all cultures can be stimulated by an end to material scarcity through a moral system that can harmonize capitalism and democracy. Idealism will be reaffirmed by their growing recognition that economic common purpose can reduce and then eliminate violence.
The key premises in this curriculum are:

Let me know if you and Jack wish to explore the use of my material further. I am convinced that citizens are mad enough this time to sustain demand for real reform, and JA could lead the way. 


Ray Carey

c. Jack Kosakowski

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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