What A 16th Century Guild Teaches Us About Competition
Engraving of a weaver's workshop, 1558 Tobias Stimer/Hulton Archive/Getty Images hide caption
Engraving of a weaver's workshop, 1558
Tobias Stimer/Hulton Archive/Getty ImagesOn today's show, we hear the story of a 16th century German weavers' guild.
They were savvy political operators, who knew how to push their competitors out of the market. They set up a system of fines, wage ceilings, and public rebukes that would be the envy of a modern cartel.
It's a tale of economic monopoly and discrimination. Of inequality and conflict. And it's a story of how businesses can stifle innovation even today.
Our guest is Sheilagh Ogilvie, an economic historian at Cambridge.
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