Book Cover

Democratic
Capitalism,  The Way to a World of Peace and Plenty
by Ray Carey

Hard/Softcover/Kindle - 5 May, 2004, Available on Amazon.com

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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Rejection 2/7/2018

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.

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Rejection

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 well educated, according to existing notions of education. 

Owen presented four papers to the society promoting his ideas on how humans could associate in harmony while building and distributing record amounts of wealth. None were thought worthy of publication which produced in Owen a life-long hostility to the intellectual community. They viewed him as a parvenue with intellectual pretensions. He viewed them as people with a limited understanding of how people are motivated. They had the classical education that fed their arrogance. Owen has the understanding of people from eight years of walking the factory floor. The intellectual elites did know many people particularly those working in factories. 

Owen understood them better than they appreciated him as he told a group in New Lanark in 1816: 
The learned have been taught to suppose that the book of knowledge has been exclusively opened to them. They are totally ignorant of human nature. They are full of theories, and have not the most distant conception of what may or may not be accomplished in practice. It is true their minds have been well stored with language, which they can readily use to puzzle and confound the unlettered and inexperienced, but with few exceptions, their profound investigations have been about words only. 

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.