As the governments of Western Europe began to stabilize and the lives of the people became easier, a new class of merchants and artisans began to emerge. These new workers formed themselves into what they called guilds.
A guild was a group of craftsmen or merchants who shared a similar trade. The guild did two important things. First, it helped regulate how business should be done. The guild established rules which regulated a particular industry.
Secondly, the guilds allowed the craftsmen to control the price of their goods. As a combined group they formed a monopoly. This allowed them to artificially set the prices at any level they desired.
Keep me away from the wisdom which does not cry, the philosophy which does not laugh and the greatness which does not bow before children.
In 1920, Eugene Debs, a Socialist, received 920,000 votes for president of the United States even though he ran his entire campaign from prison.