The medieval guild is deconstructed into political theory and social commentary in this contemporary look at one of the most important social institutions of the Middle Ages. Essential principles and values underlying the guild system are discussed with a view toward applying them to current societal ills such as unemployment, absentee corporate ownership, and employee disenfranchisement. The system, adapted to the needs and circumstances of the 21st century, is discussed as a serious economic alternative to the alleged disasters of capitalism and socialism; indeed, this book proposes it to be the only useful system because of its revolutionary and successful past.