WHI-Chap20-guilds
Guilds were organized by merchants and workers in arts, crafts, and trades, to regulate the production and sale of goods within their jurisdiction. They came to control much of the economy of medieval Europe by the 13th century. They established quality standards, sometimes requiring certain techniques of production to be used, determined prices in attempt to maintain the between supply and demand, and regulated the entrance of new members into their group. In addition to their economic significance, they also had social significance. Guild members were usually friends with the other members of their guild and also relied on them for support. Prosperous guilds even built large halls where members of the guild could socialize. Also, if one member of a guild was ill they would provide financial aid to the family and arrange the funeral if the member died. (T&E, 522)
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