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
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.