A B C of modern socialism

Wi

What steps could the State take for this purpose?

Its first steps should be to “buy out” the capitalists of an industry by offering them a reasonable sum, or better, by guaranteeing them an income for a period of years. Its next step should be, while retaining nominal possession of the so-acquired capital, to charter the union (now become a Guild by the inclusion of the salariat) to carry on the industry on terms mutually fair and favourable. What, generally, would such terms be?

In return for a charter guaranteeing the Guild the privileges of national monopoly and industrial self-government, the Guild would undertake certain responsibilities, relating to quality and quantity of industry—and also on behalf of its own members, other Guilds, the public at large and the State itself.

Has such an arrangement ever been known in history ?

Not exactly after this pattern, perhaps, but arrangements of the same character have been made between the State and political, professional and industrial organisations.

Name any political parallel.

Home Rule in the Dominions subject to the suzerainty of the Crown; the chartered companies of Rhodesia and British East Africa.

What professional precedents are there?

The legal, medical and ecclesiastical professions in England have each a charter from the State guaranteeing them certain privileges in return for the acceptance of certain responsibilities.