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 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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