Raymond B. Carey Jr. was born in 1926 in Cambridge, MA. He attended schools in Gardner, MA. In High School he was President of the Class and co-captain of the football team. He served in the United States Navy from 1944-1946 and graduated from the College of the Holy Cross, Worcester, Mass. in 1948, where he was elected to the Scholastic Honor Society, Alpha Sigma Nu. Carey received his Masters Degree from Harvard Business School in 1950. He also received election to Gardner High Schools first Hall of Fame for Extraordinary Achievement in 2006, and was presented with Aquinas High School's Veritas Friend Award in 2006.

          Carey chaired the ADT Inc. Board for over 16 years. He was also on the boards of Kroger, Thomas & Betts, C.R. Bard, Collins and Aikman, Microwave Assoc., Hanson Energy Systems, Robert Morse Corp., the inside Board of General Dynamics, and the Chemical Bank National Advisory Board. Carey served on the New York Board of Junior Achievement, and later, on their National Board. Carey has served on boards in Australia, Belgium, Canada, England, France, Greece, Ireland, Italy, Mexico, Spain, and the Netherlands. He has had extensive dealings with Japanese companies, and first visited Japan in 1963.

          Carey’s career has been divided into two different, but complimentary, phases. From 1950 until 1988, Carey was a self-taught Democratic Capitalist, first learning, then applying its principles. After 1988 Carey became a student of the history and philosophy of democratic capitalism, writing articles and books on this subject. Carey’s development as a Democratic Capitalist is described in Chapter 2. Also described is Care and Share which was a profit-sharing stock purchase plan designed and implemented by Carey at ADT.

          Starting as a swing-shift factory foreman, Carey then joined General Dynamics in 1951. After working in various trades in the Electric Boat Division shipyard, Carey became assistant to the manager of the first Atomic Sub Program. By 1956, Carey was Plant Manager, and then in 1960, President of the Electro Dynamic Division. From 1966 to 1970, Carey was President of the Howe Richardson Scale Company, and at the same time, Group Vice President of the Montreal-based Robert Morse Corp. Joining ADT Inc. in 1970, Carey was Chairman and CEO two years later.

          By the time ADT was acquired in 1987, the associates owned about 13% of the company. As they had cared enough to build ADT to preeminence in its industry, they shared results. ADT had a stock value under $90 million in 1970, by 1987 the shareholders had received almost $1 billion in stock and dividends. The company was committed to serving the stakeholders but built long term stockholder value in the process. In 1956, Electro Dynamic was a failing company; in 1970, ADT was a stagnant company. In both cases, the companies became industry leaders in both products and profits by unleashing the vitality of their people.

          In 1987, Carey organized the Raymond B. Carey Foundation, named after his father, also a graduate of Gardner High School, where he was President of the Class of 1916, and Holy Cross, where he was the  salutatorian of the Class of 1920. The foundation's purpose anticipated the mission of the Carey Center for Democratic Capitalism. In 1993, Carey started the Carey Scholars Program for graduates of Cardinal Hayes and Aquinas High Schools in the Bronx, New York. The recipients receive an award at graduation and then are in communication with Carey during their college career, exchanging views on democratic capitalism.

          From the practice, then the study, of democratic capitalism, Carey feels that it is the common ideology with both economic and social logic than can benefit society. Carey feels that the world movement to free markets is being unnecessarily impeded by a lack of understanding of the morality and protocols of democratic capitalism, in part due to inadequate comprehension of the conflicts among forms of capitalism. Carey feels that better understanding of democratic capitalism and the conflicts can sharpen the focus on what free markets means. Extraordinary social progress in the 21^st century can then be the result.