Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio.
a form of socialism proposed in England in the early 20th cent., emphasizing government ownership of all industries, each to be managed by a guild of workers
Used by arrangement with John Wiley & Sons, Inc.
nounThe American Heritage® Dictionary of the English Language, 4th edition Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
An English socialist doctrine of the early 20th century according to which industry would be owned by the state but managed by guilds of workers.