Guild socialism is an ideology and a political movement advocating workers' control of industry through the medium of trade-related guilds "in an implied contractual relationship with the public". It originated in the United Kingdom and was at its most influential in the first quarter of the 20th century. It was strongly associated with G. D. H. Cole and influenced by the ideas of William Morris.
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👉 Guild socialism in the context of Workers' control
Workers' control is participation in the management of factories and other commercial enterprises by the people who work there. It has been variously advocated by anarchists, socialists (notably Trotskyists), communists, social democrats, distributists and Christian democrats, and has been combined with various socialist and mixed economy systems.
Workers' councils are a form of workers' control. Council communism, such as in the early Soviet Union, advocates workers' control through workers' councils and factory committees. Syndicalism advocates workers' control through trade unions. Guild socialism advocates workers' control through a revival of the guild system. Participatory economics represents a recent variation on the idea of workers' control.
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Guild socialism in the context of G. D. H. Cole
George Douglas Howard Cole (25 September 1889 – 14 January 1959) was an English political theorist, economist, historian, and novelist. As a believer in common ownership of the means of production, he theorised guild socialism (production organised through worker guilds). He belonged to the Fabian Society and was an advocate for the co-operative movement.