Guild Socialism

Guild Socialism is an economic and political theory advocating for industries to be owned and managed collectively by workers organized into guilds, rather than by private owners or the government. It aims to promote cooperation, fair wages, and local control, emphasizing that workers should have a direct say in production and distribution. The idea is to combine the efficiency of organized labor with democratic decision-making, fostering a society where industries serve public interests rather than profit maximization. It emerged in the early 20th century as an alternative to capitalism and state socialism, seeking a balanced approach through cooperative ownership.