Democratic Capitalism: The Way To A World Of Peace And Plenty

Rating:
Summary: THE book for professors and teachers of economics
Review: Carey's book teaches our students how to think about democracy and capitalism at the same time. Carey's revolutionary coupling of the two political/economic agendas that we affirm the most--democracy and capitalism--inspires optimism in students who think that business and finance is "some win/some lose." Carey's approach is an "everybody wins" affirmation.

Carey is the new Adam Smith, America's answer to Marx. Himself an experienced and successful businessman, he has a specific template for running real businesses in a democratic-capitalistic manner that means long-term higher profitability.

Carey has spotted the enemy: finance capitalists, the people who "make money on money" but do not produce anything. Finance capitalism is now running the world economically, and Washington is in their hip-pocket (e.g. Cheney and Enron). Carey names names, and he tells us what to do about it in no uncertain terms.

This is "must" reading for anyone who teaches economics, finance, business, economy theory, economic ethics. Carey appeals especially to academics, telling us how to do our job better. "One more business guru with a message for academe?" Yes, but his message is bang-on!

Rating:
Summary: Why should democracy and capitalism be in conflict?
Review: For my generation, it's a foregone conclusion capitalism is synonymous with greed and selfishness; it is a zero-sum game where only a fortunate (highly connected and privileged) few succeed. My peers, many of whom are highly educated, believe the democratic ideals we've learned to appreciate--freedom, hard work, trust, and opportunity--have nothing to do with today's breed of capitalism, which evidently has more to do with maximizing shareholder wealth at any expense. I believe the time is ripe for our society to accept a new model by which individuals can work with dignity, where their contributions are genuinely valued and recognized, where job security is commensurate with hard work and dedication. I believe the time is ripe for a more democratic and honest form of capitalism, where short-term earnings and the "expectations" of someone who knows quite little about your business, and nothing about your people, is NOT the driving force behind the decisions a business makes about how it treats its most important asset: its people. I know Democratic Capitalism is the answer to many of the problems we've witnessed in business in recent years. I highly recommend this book and hope you come to share its vision for a better future. Democracy and capitalism need not be in conflict.