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Guilds, Laws, and Markets for Manufactured Merchandise in Late-Medieval England
Explorations in Economic History (2004)
  • Gary Richardson, University of California, Irvine
Abstract

The prevailing paradigm of medieval manufacturing presumes guilds monopolized markets for durable goods in late-medieval England. The sources of the monopolies are said to have been the charters of towns, charters of guilds, parliamentary statutes, and judicial precedents. This essay examines those sources, demonstrates they did not give guilds legal monopolies in the modern sense of the word, and replaces that erroneous assumption with an accurate description of the legal institutions underlying markets for manufactures in medieval England.

Keywords
  • Guilds,
  • competition,
  • monopoly,
  • rent seeking,
  • medieval Europe
Publication Date
January, 2004
Citation Information
Gary Richardson. "Guilds, Laws, and Markets for Manufactured Merchandise in Late-Medieval England" Explorations in Economic History Vol. 41 (2004)
Available at: http://works.bepress.com/gary_richardson/6/