What is another word for guild socialism?
Pronunciation: [ɡˈɪld sˈə͡ʊʃə͡lˌɪzəm] (IPA) 
Guild socialism is an economic system that is based on the cooperation between different guilds or trade unions. It emphasizes on the idea of worker control over the means of production. Some synonyms for guild socialism include corporatism, cooperative socialism, industrial democracy, and trade unionism. Corporatism is a system where different sectors of society represent themselves through various interest groups. Cooperative socialism gives workers control over the production process and profits. Industrial democracy emphasizes on the worker's participation in the decision-making process of the company. Trade unionism is a system where workers unite to protect their rights and interests in the workplace. All of these terms capture the idea of the workers' control in the economic system.
