However, guilds in Britain went a step further since they got rid of not only the pillars of private property and wage relations, but also profi t as the driver of production altogether. Like the miners, the guilds intended to enable a “new industrial system” based on a new motive, “the motive of public service under free conditions” (Cole 1921b, 17), deemed far superior to that of private profi t. Guild Socialist leaders, including Cole, Frank Hodges, and S. G. Hobson, envisaged a starting point for the fullblown realization of a guild socialist society based on a democratic economy and a new industrial system.

Clara E. Mattei, The Capital Order, loc. 433