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xiv INTRODUCTION luxury goods and, as a result, developed less expensive imitations that transformed material goods across Europe and to America. THE GUILD SYSTEM During the late Middle Ages in Europe, the guild system developed to train craftsmen and control the flow of trade within a geographic region, usually a town and its immediate surrounding area. These professional associa- tions protected and promoted the interests of their members. Merchants and artisans created the guild system to protect their interests because they were an emerging class that did not fit neatly within the prevailing medi- eval order. They were a form of both economic and social organization in a society that valued an aristocratic hierarchy. Merchant guilds regulated trade, including the pricing of items. They restricted trading by foreigners in the city, but they also restricted the options of local merchants. Their goal was to maintain a local monopoly on sales and a uniformity in pricing so that no individual could corner a market. They followed a philosophy of extracting a reasonable charge for the services rendered and thereby tried to benefit all members equally. Merchant guilds were localized their control only extended over their town. In today’s networked world of globalization, this structure may seem quaint, but at the time few people ever journeyed more than a few miles from the place of their birth. Craft guilds regulated and trained artisans, usually only men, in a par- ticular trade. Craft guilds had levels of hierarchy based on experience and skill. At the top were the master craftsmen, who had full voting rights within the guild. They were highly skilled and often ran their own shops. They supervised and trained the lower orders of the guild, the journeymen and the apprentices, who worked under them. Journeymen had learned their trade but were still working for a master to perfect their skills. To gain full status within the guild, a journeyman had to produce a masterpiece that showcased his artistry, skill, creativity, and workmanship. The mas- ters of the guild judged the masterpiece and voted on admittance to the guild, thus limiting membership to only those whom they deemed worthy. Although seemingly a meritocracy, guilds also involved many social, per- sonal, and political dynamics. The lowest entry position in the guild was the apprenticeship. Terms of an apprenticeship were strictly regulated. Children were often bound to a master for a fixed set of years at low wages with the expectation of learning a trade. Although apprenticeships could be grueling and some masters could be harsh and abusive, they also provided an oppor- tunity to develop a skill and prepare the apprentice for a stable life of work.