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 4:50





January 31, 2013

Mr. Raymond B. Carey, Jr.
Carey Center for Democratic Capitalism
34 Browns Dock Road
Locust, NJ  07760

Dear Mr. Carey,

Alaina Flaherty kindly forwarded your letter of March 28, 2011, to me. I am so sorry for the long delay in responding.

I appreciate your thoughtful letter and your interest in and concern for educating young people of character and integrity. I share your deep concerns for developing our next generation of leaders. Thank you as well for your cogent description of Democratic Capitalism.

While our goals are similar, our means of achieving them differ. At Harvard Business School, our first-year students takes a class on Leadership and Corporate Accountability, in which they spend a semester focusing on just these issues. We also aim to thread the issues of honesty, character, and integrity throughout our courses. It is important to me that all our alumni, as you so well demonstrate, lead with these values at the forefront of their minds.

Thanks for your interest in management education.

Best Regards,

Nitin Nohria

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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