Guilds craftsmen economic security from "summary" of Feudalism in Medieval Europe by Pliny O'Brian
The economic security of guilds during medieval times was an important factor in providing stability to the feudal system. Craftsmen were able to earn a livelihood and provide for their families, while the nobility was able to ensure protection and safety for their subjects. This relationship between guilds and the nobility ensured an economic security that was essential for the functioning of society.- During Medieval Europe, guilds of craftsmanship provided economic security to the people in its profession by creating a monopoly on certain goods and services.
- The guilds provided a sense of job security through limiting the number of members, training standards agreed upon by all members in good standing, and certification of members' professional competence.
- Prices for goods and services would be fixed by collective agreement between guilds allowing them to protect their products from unfair competition and enjoy considerable economic stability.
- Guilds also made sure to protect their members’ rights by providing appropriate housing, pensions, healthcare, etc. to promote their living standard and well-being.
- Financial constraints imposed by the local authorities upon the guilds however did sometimes lead to conflicts over wages and working hours making it difficult for craftspeople to ensure economic security.
- Craftsmen were organized into associations which were regulated by authorities appointed by local communities or town councils.
- As part of this agreement those with higher levels of skill and professional expertise occupied higher rank within these associations consequently enjoying greater safety nets.
- Artisans in some regions further held collective responsibility for any disruption caused by members requiring them to jointly cover fines imposed by judicial courts for any misconduct by one of their associates.
