Guilds were urban economic institutions that existed during the end of feudalism and beginning of capitalism. They restricted and monopolized industrial production.[1] Following the bourgeois revolutions, large-scale industry replaced them and replaced their restrictions on production with competition. Some reactionary anti-capitalists seek to reverse history and restore the guild system.[2]
References
- ↑ Karl Marx, Friedrich Engels (1848). Communist Manifesto: 'Bourgeois and Proletarians'. [MIA]
- ↑ Friedrich Engels (1847). The Principles of Communism. [MIA]