trade guild

Craftsmen's professional union

A trade guild is an association of craftspeople or merchants organized to protect their common interests.

Historically, guilds controlled who could practice a trade, set quality standards, and regulated prices.

Medieval guilds of blacksmiths, weavers, and goldsmiths wielded significant economic power in their cities.

Modern professional associations sometimes function as informal trade guilds, restricting entry and maintaining standards: The bar association operates like a trade guild for lawyers.

Related

skilled labor · apprentice · master · journeyman · livery · charter · monopoly · workshop · brotherhood · fraternity · guildhouse · dues · wares · smiths · weavers · tanners · masons · medieval

Categories
Opposites
collective organization vs. individual enterprise

trade guildsole proprietor

Single owner of business

freelancer · itinerant worker · cottage industry

worker protection structure

trade guildlabor union

Collective bargaining group

industrial union · at-will employment · gig economy · gig worker · precariat

market regulation vs. market freedom

trade guildfree market

Commerce without state intervention

open competition · free trade · free enterprise

Family

trade, guild, trades, traded, trading, trader, traders, tradesman, tradesmen

Familiarity
Top 500,000
Profile
Used worldwide · Timeless · Concrete · Everyday, not technical · Rated G