Under our existing capitalist monopolies, huge businesses buy out or undersell the local competition.
When you read Hilaire Belloc, G.K. Chesterton, and Arthur Penty, one is struck by the fact that their analysis is more valid today than 70 or 80 years ago.
How big a town or city would we need for a guild to develop to meet the need for regulation?
Our “parallel economy” is an economy that provides for the same needs as the capitalist economy, but provides for them in a different manner.
Like the Guilds, unions are not political creations, but voluntary organizations which have arisen spontaneously to protect the weaker members of society.
We might begin our consideration of guilds by asking some basic questions about the economy: What is an economy for?
There is a clear need for a replacement philosophy in a variety of intellectual areas, and not just economics, but also in the voluntary sector.