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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.


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

March 28th, 2012

Episode 461 of 974 episodes

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.

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