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.