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 4:9


Senator John Edwards
Director, Center of Poverty, Work, and Opportunity
UNC School of Law

Dear Senator Edwards: 
I was the Chairman and CEO of ADT, Inc. for about 18 years and have since studied the economic-political system for an equal time. The enclosed book, the product of this experience and study, can make a contribution to your Center’s mission and at the same time outline a political reform agenda for your examination.
The agenda is built on support of democratic capitalism, the good capitalism, while purging ultra-capitalism, the bad, with clear action on how to get from the bad to the good. A powerful political agenda is available for one who understands how Adam Smith’s few conditions for the success of economic freedom are violated, and how economic common purpose can displace imperialism. 
Please visit my web site for more on democratic capitalism, a bio, reviews of my book, and a description of my Carey Scholars program. Note the range of support in the testimonials on the back of the book from Republican, John Whitehead, former Deputy Secretary of State in the Reagan administration, coupled with Dr Hartoonian, a liberal professor. Whitehead was also Co-Head of Goldman Sachs which is important support considering my criticism of Wall Street.
My name may be familiar to you as have met my daughter Dr Lisa Carey in a professional capacity.
I am in Chapel Hill a few times a year and would like to meet with you to explain how my agenda can energize voters, particularly the near majority that does not vote.


Ray Carey

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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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...

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