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 4:7


George T. Maloney
November 20, 1995

Dean Diane Dunlap                             
Dean Graduate School
Hamline University

Dear Dean Dunlap,

I am pleased to enclose a check to join the ranks of those making a contribution towards the opening of the “Cary Center” at Hamline University, this fall.

I first met Ray Carey when he was a prospective candidate to join the board of C.R. Bard, Inc., the corporation, at which I proudly worked for, for some thirty-seven years. Ray did become a member and proved to be a most worthy contributor.

Approximately a year ago, Ray sent me a copy of his manuscript titled “Democratic Capitalism”; which by now, you have more then a passing knowledge. When he sent it to me, he said, that I, like him, was a Democratic Capitalist. At that time, I could not argue either way, because quite frankly, I did not know what a Democratic Capitalists was. Reluctantly I took the manuscript with me on a post Christmas in sunny Puerto Rico, and returned without a tan, because I became fascinated with Ray’s work. Having read the manuscript, I am proud that Ray recognized me for what I am: a Democratic Capitalist.

The motivation to make this contribution is quite simple: I believe that Ray’s work is in the early stages of what could, in time, be the template of: “How America is great again”. I also appreciate with that grandiose statement, but I believe it.

I only wish that my school (Siena College, Loudonville, NY) offered a course in the methods, standards and ideology of Democratic Capitalism, when I attend there. It would have shortened my empirical education. I can look back at the growth of C.R. Bard from when I joined the company of nine million in sales to over a billion today., and contribute a large part to its leaders over the past forty years; who were all Democratic Capitalist’s (even though they may not have known it).

You might be interested in knowing that I have talked briefly with the Reverend William E. McConville, O.F.M., the President of Siena College, about Ray’s work and he expressed interest in it. When I asked him, if he were familiar with Hamline University, he replied and spoke very highly of him. I do plan to ask Father William in the not to distant future about setting up a meeting with Ray and the powers to be at Siena.

I will take this opportunity to wish you a very “warm” and joyous holiday season.


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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