Question

what were the role of guilds in the medieval trade? explain

Answer 1

Guilds in the Middle Ages played an important role in society. They provided a way for trade skills to be learned and passed down from generation to generation. ... Members were supported by the guild if they came onto hard times or were sick. They controlled working conditions and hours of work.

Answer 2

Answer:

istory

Business in the Middle Ages:

What Was the Role of Guilds?

William Bosshardt and Jane S. Lopus

Guilds are defined as associations of craftsmen and merchants formed to promote the

economic interests of their members as well as to provide protection and mutual aid.

As both business and social organizations, guilds were prolific throughout Europe

between the eleventh and sixteenth centuries. A significant part of the skilled labor

force in medieval cities was structured around the organization of guilds, which

provided economic, educational, social and religious functions.1

The study of guilds

provides opportunities for teaching several key economic concepts in a historical

context, including specialization, division of labor, productivity, human capital (skills

or education), monopoly power, economic systems, and labor unions.

The Organization of Guilds

Although the organization and functions

of guilds varied greatly across areas and

across time, certain generalizations are

possible. Guilds in medieval Europe

could be classified into two types: craft

guilds and merchant guilds. Craft guilds

were made up of craftsmen and artisans

in the same occupation, such as hatters,

carpenters, bakers, blacksmiths, weav-

ers and masons. Many craft guilds came

about because the growing population

in cities and towns led to increases in

specialization and division of labor.2

Merchant guilds included most or

all of the merchants in a town or city

and were involved in regional and long-

distance trade. Merchant guilds were

also influential in local governments,

and many leaders of merchant guilds

were wealthy and influential citizens.

The functions of craft guilds and mer-

chant guilds sometimes overlapped

when merchant guilds opened shops

or craft guilds engaged in trade. Guilds

existed in rural areas also, and these

were often established largely for social

and religious purposes.