"Profit-sharing, in the loose sense, must be of untold antiquity; the first great example of profit-sharing in the strict sense is that of the Parisian house-painter, Edme-Jean Leclaire, “ The Father of Profit-Sharing.” In 1842 he was employing 300 men on day wages. By greater zeal and intelligence and less waste, not necessarily by harder work, he reckoned they could save £3000 a year; and he made it their interest to do so by arranging that they should receive the greater part of the saving themselves. This arrangement proved a very great success; the material gain to the men and the improvement in their morale were marked; and Leclaire, who began life with nothing and died worth £48,000, always maintained that, without the zeal drawn out in his men by profit-sharing, he never could have made so large a business or gained so much wealth."
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