Definitions from the Web
Guild Socialism
Definition: Guild Socialism is a political and economic theory that promotes self-governing guilds as the basis for organizing industry and society. It seeks to establish a system where workers control the means of production and decision-making power is decentralized.
Usage Examples:
- As an economic system, guild socialism advocates for worker-owned and managed cooperatives.
- Guild socialism emerged as a response to the perceived disadvantages of both capitalism and state socialism.
- Under guild socialism, workers are organized into guilds or associations representing their respective industries.
- Some proponents of guild socialism argue that it promotes greater economic and social justice by eliminating hierarchies and empowering workers.
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