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dc.contributor.authorOgilvie, Sheilagh
dc.date.accessioned2007-09-14T10:24:48Z
dc.date.available2007-09-14T10:24:48Z
dc.date.issued2007-09
dc.identifier.urihttp://www.dspace.cam.ac.uk/handle/1810/194730
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/194730
dc.description.abstractThis paper examines recent attempts to rehabilitate pre-modern craft guilds as efficient economic institutions. Contrary to rehabilitation views, craft guilds adversely affected quality, skills, and innovation. Guild rent-seeking imposed deadweight losses on the economy and generated no demonstrable positive externalities. Industry flourished where guilds decayed. Despite impairing efficiency, guilds persisted because they redistributed resources to powerful groups. The ‘rehabilitation’ view of guilds, it concludes, is theoretically contradictory and empirically untenable.en
dc.language.isoenen
dc.publisherFaculty of Economics
dc.relation.ispartofseriesCWPE0745
dc.subjectInstitutionsen
dc.subjectGuildsen
dc.subjectRent-seekingen
dc.subjectmonopolyen
dc.subjectCraften
dc.subjectIndustryen
dc.subjectqualityen
dc.subjectHuman Capitalen
dc.subjectTrainingen
dc.subjecttechnologyen
dc.subjectinnovationen
dc.subjecteconomic historyen
dc.subjectmethodologyen
dc.subjectlocal studiesen
dc.subjectcase studiesen
dc.titleCan We Rehabilitate the Guilds? A Sceptical Re-Appraisalen
dc.typeWorking Paperen
dc.identifier.doi10.17863/CAM.5174


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