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 4:8


November 20, 1995

Dean Diane Dunlap
Dean Graduate School
Hamline University

Dear Dean Dunlap,

I just finished a delightful lunch with Ray Carey where we had an extraordinary discussion of the “Carey Center”. I can’t tell you how pleased I was to hear that some of Ray’s ideas will be brought to acadamia.

I have known Ray for over 20 years on both a business and personal basis. In my prior life as a business consultant, I worked closely with the CEO’s of Colgate Palmolive, Illinois Central Railroad, Time Warner, May Department Stores, Phelps Dodge and many others. In my nearly 30 years in business, I never worked with an individual with more personal integrity than Ray.

At ADT Ray transformed a poorly managed company into a well managed meritocracy. He taught his managers that by working together they could develop a culture that welcomes change; where new ideas are encouraged and innovations are developed to meet the changing needs of the market. Most of all he established a shared set of fundamental values where individuals worked as a team and were rewarded based on performance. This resulted in a true culture of equal opportunity, one that was both collaborative and yet able to tap individual creativity and leadership.

I am enclosing a copy of our foundation’s five year report and look forward to playing any supportive role for the “Carey Center”.

Michael W. Osheowitz


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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