Albert Gallatin was Secretary of the Treasury under Jefferson and Madison; he was also "the father of American ethnology" and originator of the world's first systematic plan of profit-sharing, introduced in his Pennsylvania glass works in 1794. His idea was so simple in theory that it became a catchword of capitalism but it is so complex in practice that few companies have tried it. Last week a Senate committee started to find out why this is so and what, if anything, should be done about it. At least it should provide a neat...
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