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 4:11



December 10, 1996

Reuben V. Anderson
Phelps Dunbar, L.L.P.

Dear Mr. Anderson:

Thank you so much for you kind and generous donation to the Carey Center at Hamline University’s Graduate School.

Like you, we are impressed with Ray Carey’s vision of democratic capitalism and are committed to making his vision a reality in school and university curricula.  We have made a good start this term in running a graduate-level seminar in Education, Public Administration, Liberal Studies, and Law faculty and students present in the seminar.  We have read much of Ray’s work and he has guided us through a re-reading of many classics of democracy.  We have argued and thought about democratic capitalism for the semester.  Tonight is the last class, and I can tell you that the whole group is even more committed to the capital need for Ray’s vision across the globe at the end of the semester then we were at the beginning.

I know that Professor Michael Hartoonian will be sending you information on other programs and activities related to the Center, so I will not repeat them here.  I hope that we have an opportunity to work together in the future in Mississippi and in Minnesota.

Best wishes for the holidays.


Diane M. Dunlap, Dean

Cc:   Ray Carey
Michael Hartoonian

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 11/15/2017

November 14, 1995
Diane Dunlap
Dean, Graduate School
Hamline University

Dear Dean Dunlap:

I was very happy to hear about the plans for the “Carey Center” at Hamline University. It has been a source of much frustration to me that business concepts which I have seen working and which I admire have so little visibility in academia.

Ray Carey was Chairman of the Board and CEO of ADT Security Systems Inc. when I joined their Engineering Department in 1973. My specialty was Microwave Transmission Systems, and my previous employers were Bendix Navigation & Control Division and IT&T Avionics Div. Working at ADT was very different from working at either Bendix or IT&T.

ADT had a charter which was taken seriously. We, the employee-associates, were entrusted...

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