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.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

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 2/7/2018 - Rejection

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...

Click here for the full post