Guild
An association of craftspeople or merchants who control the practice of their craft in a town
Real World Example
In the historical period of The Rise of Europe from 500-1300, guilds were important organizations that helped structure the economy and society. They regulated the quality of goods, set fair prices, and provided training through apprenticeships, which were essential for maintaining high standards in crafts and trade. Guilds responded to the need for organized trade and protection of workers’ rights in growing medieval towns. Today, the concept of guilds is similar to modern professional associations or unions, which support workers, set industry standards, and protect their interests. For example, the Screen Actors Guild in the entertainment industry helps actors negotiate fair contracts, ensuring they receive proper compensation and working conditions.
