History of Mediaeval Hindu India (being a History of India from 600 to 1200 A.D.) v2.c27.24

v2.c27.24

The craft guilds were organized on a democratic basis, and every member had a voice in the management of the guild's affairs. The officers were elected by the members, and the rules and regulations were made by the guild as a whole. The guilds had the power to fix prices, to regulate the hours of labor, and to determine the conditions of apprenticeship. They also had the power to punish members who violated the rules, and to expel those who were guilty of serious offenses. The guilds were thus a powerful force in the economic life of the Middle Ages, and they played an important part in the development of the modern industrial system.