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A Tale of Two Theories: Monopolies and Craft Guilds in Medieval England and Modern Imagination

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  • Richardson, Gary

Abstract

Popular texts typically assert that guilds of craftsmen “monopolized†markets in medieval England. Norman Cantor's Medieval Reader declares “craft guilds' … main purpose and activity was narrow regulation of industrial productivity in order to restrain competition†(Cantor 1994, p. 278). Douglass North's Structure and Change in Economic History asserts “… guilds organized to protect local artisans … [and their strength] in preserving local monopolies against encroachment from outside competition was frequently reinforced by the coercive power of kings and great lords†(North 1981, p. 134). Henry Pirenne's Economic and Social History of Medieval Europe proclaims:craft guilds, under a diversity of names, officium or ministerium in Latin, metier or jurande in French, arte in Italian, ambacht or neering in the Netherlands, amt, innung, aunft, or handwerk, in German, craft-gild or mistery in English, … fulfilled the need of economic protection. The pressing necessity to stand by one another, so as to resist competition from newcomers (Pirenne 1937, pp. 177–79).

Suggested Citation

  • Richardson, Gary, 2001. "A Tale of Two Theories: Monopolies and Craft Guilds in Medieval England and Modern Imagination," Journal of the History of Economic Thought, Cambridge University Press, vol. 23(2), pages 217-242, June.
    • Handle: RePEc:cup:jhisec:v:23:y:2001:i:02:p:217-242_00
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    Cited by:

    1. Mark Koyama, 2020. "A review essay on The European Guilds," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(1), pages 277-287, March.
    2. Dessí, Roberta & Piccolo, Salvatore, 2016. "Merchant guilds, taxation and social capital," European Economic Review, Elsevier, vol. 83(C), pages 90-110.
    3. Richardson, Gary & McBride, Michael, 2009. "Religion, longevity, and cooperation: The case of the craft guild," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 172-186, August.
    4. Richardson, G., 2000. "Brand Names Before the Industrial Revolution," Papers 00-01-09, California Irvine - School of Social Sciences.
    5. Roberta Dessì & Salvatore Piccolo, 2008. "Two is Company, N is a Crowd? Merchant Guilds and Social Capital," CSEF Working Papers 202, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 12 Jul 2009.
    6. Botham, Craig, 2021. "Craft guilds: rent-seeking or guarding against the grabbing hand?," LSE Research Online Documents on Economics 112746, London School of Economics and Political Science, LSE Library.
    7. Richardson, Gary, 2004. "Guilds, laws, and markets for manufactured merchandise in late-medieval England," Explorations in Economic History, Elsevier, vol. 41(1), pages 1-25, January.
    8. Svensson, Göran & Wood, Greg & Callaghan, Michael, 2010. "A corporate model of sustainable business practices: An ethical perspective," Journal of World Business, Elsevier, vol. 45(4), pages 336-345, October.
    9. Gary Richardson, 2005. "Craft Guilds and Christianity in Late-Medieval England," Rationality and Society, , vol. 17(2), pages 139-189, May.

    More about this item

    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • N63 - Economic History - - Manufacturing and Construction - - - Europe: Pre-1913
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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