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What is Guilds? What were the functions of the Guilds?, Guilds are defined as associations of craftsmen and merchants formed to promote the economic, interests of their members as well as to provide protection and mutual aid. As both business and, social organizations, guilds were prolific throughout Europe between the eleventh and sixteenth, centuries. A significant part of the skilled labor force in medieval cities was structured around, the organization of guilds, which provided economic, educational, social and religious functions., The study of guilds provides opportunities for teaching several key economic concepts in a, historical context, including specialization, division of labor, productivity, human capital (skills, or education), monopoly power, economic systems, and labor unions., The Functions of Guilds, Guilds served a wide variety of economic, social, and religious functions. Guilds helped to, advance and expand the economies of the era by providing education and training for apprentices, and by helping journeymen improve their skills. The specialization within a trade provided by, the guild structure, along with the training and skills, led to increased productivity, increased, wages, and higher standards of living. Guilds became a major source of employment for workers, in cities, and guild membership was widespread. Guilds functioned as local monopolies. In, classic monopolistic style, they sought to raise wages through increased profits by limiting the, quantity of goods and services produced and by controlling prices. Guild membership was, limited so as not to flood markets with products and cause prices to fall. In hard economic times, when demand was low, fewer journeymen would become masters and fewer apprentices would, become journeymen. When times were better and demand for goods and services was higher,, promotions within guilds were more common. Guilds also controlled the quality of goods, produced, realizing that it was in their self-interest as well as that of consumers to produce high, quality products. Guilds relied on cooperation among their members to achieve their common, goals, and low quality products were not tolerated because all guild members would suffer., Guilds often had a great deal of influence over local governments. Guild leaders, especially those, of powerful merchant guilds, frequently also served as local government officials. This situation, enabled guilds to have legislation passed in their favor. Guilds also helped member families in, need, and performed functions such as paying for burials and dowries for poorer families. When, the Black Death caused the population of Europe to plummet during the fourteenth century,

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guilds became extended families for plague survivors. Guilds also served important religious, functions for their members. They worked to achieve eternal salvation for members by, encouraging prayer for living and dead members, church attendance, and pious behavior.