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

Author

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  • Richardson, G.

Abstract

Two fields of thought evolved simultaneously, but scholars in one ignored the evolution of the other. The first was the theory of monopoly, whose broad nineteenth-century definition narrowed considerably during the twentieth century. Concepts contained in its original incarnation attained independence when the Chamberlain-Robinson revolution introduced the modern lexicon of industrial organization. The second was the theory of guilds, originally devised when monopoly's definition was vague and rigidly maintained as its modern denotation developed.

Suggested Citation

  • Richardson, G., 2000. "A Tale of Two Theories: Monopolies and Craft Guilds in Medieval England and Modern Imagination," Papers 00-01-10, California Irvine - School of Social Sciences.
    • Handle: RePEc:fth:calirv:00-01-10
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    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. Richardson, G., 2000. "Brand Names Before the Industrial Revolution," Papers 00-01-09, California Irvine - School of Social Sciences.
    5. 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.
    6. Gary Richardson, 2005. "Craft Guilds and Christianity in Late-Medieval England," Rationality and Society, , vol. 17(2), pages 139-189, May.
    7. Dessí, Roberta & Piccolo, Salvatore, 2016. "Merchant guilds, taxation and social capital," European Economic Review, Elsevier, vol. 83(C), pages 90-110.
    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. 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.

    More about this item

    Keywords

    MONOPOLIES ; REVOLUTION ; LABOUR MARKET ; BEHAVIOUR;
    All these keywords.

    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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