Democratic Capitalism
The Way to a World of Peace and Plenty
by
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PREFACE
The young boy on the cover pondering beauty is my
grandson, Kelly. This book is dedicated
to Kelly and my other grandchildren, Jenner, Nash, Abigail, Patrick, and
Adam. I want them to grow up in a world
where they can reach their full potential and contribute to a harmonious whole.
My grandchildren will learn from family, team
sports, school bands, medical research teams, and other group efforts that
their individual development depends on hard work and cooperation. They will
learn that when each contributes strength to the group, and each benefits from
the strengths of others, performance is improved and life is more fun. I hope that their schools address this dual
development of individual attainment and social cooperation.
In this book about democracy and capitalism, I
examine the economic-political system in which all gain as each gains through
participation, cooperation, trust, and sharing. With these motivations, and the private property and competition
of capitalism, material scarcity can be eliminated and the quality of lives
improved. I propose democratic
capitalism as the rational alternative to the folly and violence that fills
human history, in which the only animal capable of reason has killed more of its
own species than any other creature has done.
Animosities and violence will gradually end when educated citizens and
trained leaders structure human affairs through the economic common purpose
that improves all lives.
It is satisfying to realize that Jenner, Nash,
Kelly, Abigail, Patrick, and Adam will be the first generation to live in an
interconnected world based on freedoms.
Convergence of people and commerce in the Information Age will transcend
the flaws of traditional institutions.
Wars and material scarcity will disappear in a freedom-based, unified
world where the simple idea of individual development in a harmonious whole
prevails. Citizens of this
interdependent world will demand the education and good health necessary to
make human freedoms universal.
Information Age technology is making education of the whole world
possible. With the non-freedoms eliminated, my grandchildren's children and
their grandchildren will live in a steadily improving world.
This book identifies the significant parts, their
connections, and the action necessary for society to benefit. My proposed rational order is based on my
experience combined with the wisdom of thinkers from many disciplines. My own practice of democratic capitalism
provided me a confident view of the latent power of people that could be
released when they were free to develop and contribute. My studies found the wisdom of many
specifying how to organize human affairs to give all people their best chance.
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About the Book
Democratic capitalism combines the free-market
energies of competition and private property with the enormous
productivity and innovation released in an environment of trust and
cooperation.
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.
Late in the 20th century, the world was
moving towards these benefits of economic freedom when America led instead to
ultra-capitalism, with a record concentration of wealth, another
boom/bust cycle, slower world economic growth, and reversal of economic
momentum in emerging economies. America then used its military might early in
the 21st century to combat the violence that resulted from this failure
of economic leadership.
The persistent human failure to employ reason in
order to associate in trust and cooperation at the global level has
resulted in a terrible performance: continued misery for many and violence or
fear of violence for all. Carey
explains why this condition is
unnecessary and how citizens can eliminate material scarcity, elevate
spirits, unify people, and stop the violence by moving company practice and
public governance to democratic capitalism.
About the Author
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,. At ADT, Carey implemented a profit-sharing
and stock-purchase plan for all associates as part of the work culture change
needed to move the relationship between management and wage earners from
alienation to cooperation. In chapter
2, Carey describes the coupling of his experience with 15 years in the study of
why billions of people still live in misery and violence.