RAY CAREY 

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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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.  Consider the following facts:  

• Democratic capitalism is the synergy of democracy and capitalism.
  

• Democratic capitalism improves the performance of companies, governments, and the world.
  

• Worker ownership encourages individual development and mutual harmony.
  

• Ultra-capitalism leads down the wrong road to more folly and violence.

Late in the 20^th 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.

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There are two goals of this web site. First to present Democratic Capitalism as the economic system that will provide each wage earner with the opportunity for full development in an environment of trust and cooperation. The function of managers is to harmonize the two in order to produce more broadly distributed wealth.

The second goal is to remove the impediments from a quarter-century of dominance by finance capitalism by neutralizing the lobby power of Wall Street in order to switch government support to democratic capitalism.

An Agenda to Reform Capitalism

Economic recovery requires capital invested in the job-growth economy and kept away from the speculators. Impediments must be eliminated allowing democratic capitalism to spread on its economic and social logic. These proposed reforms are summarized below and examined in more detail in a series of articles under “Introduction,” in video  interviews, and in the book, Democratic Capitalism: The Way to a World of Peace and Plenty..
 

• Tax-free dividends for wage earners will expand profit-sharing and ownership plans, rebuild retirement accounts, generate a “capital wage” to be spent or saved, and turn employees into active capitalists.

• Hundreds of billions of dollars of corporate surplus will be moved into the economy through both reinvestment in growth and distribution in dividends. Stock buy backs will be taxed.

• Wage earners will instruct their money managers to move retirement money out of “too big to fail” banks into small banks, credit unions, or direct investment.

• Congress will design a “Repair America Bond” that will redirect some of the $2.3 trillion of 401(k) money into $2 trillion for infrastructure repair.

• Wage earners will instruct their money managers to measure corporate performance not on quarterly earnings but rather on a three-year running average of sales, profits, and cash flow against managements’ predictions.

• Government must prevent recessions by fighting asset inflation with the same determination with which they fight price inflation. One agency should “control currency and credit for the general welfare,” not for the benefit of speculators. Tools include interest, reserve requirements, and various taxes.
 

Click here for the full Reform Agenda

Introduction to Democratic Capitalism

When enough citizens understand that economic freedom can eliminate material scarcity and that economic common purpose can unite people and stop the violence, the ideal of democratized capitalism will become the reality.

Click here for Introduction Articles

Interviews with Ray Carey

Ray Carey on Time Warner Cable, NY-- Channer's "Conversations"
March 9, 2010

Ray Carey on Public Access TV-- Channer's "Conversations" 
May 10, 2007 

Michael T. Greenwood, Professor of Economics at Mt.Wachusset Community College, interviews Ray Carey on Democratic Capitalism. 

Reviews of Ray Carey's Book:

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...Click here for full review

In my opinion, Ray Carey has provided the most comprehensive and persuasive case yet for the idea of broad ownership and the best account of mechanisms for achieving it...Click here for full review

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