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#357: What A 16th Century Guild Teaches Us About Competition

#357: What A 16th Century Guild Teaches Us About Competition

Planet Money vor 14 Jahren

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On 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.