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Frankfurter
History
28 December, 07:23
What were guilds and why were they established
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Natasha Bradley
28 December, 07:28
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During the 11th century, merchant guilds were formed in many towns. They arose out of the need to protect commerce and industry in towns, which were outside the scope of the feudal system and thus had no laws or customs governing economic affairs. Members of the guild had a monopoly on trade in that town.
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