Guild Politics a Practical Programme for the Labour Party the Co Operators
Guild Politics a Practical Programme for the Labour Party the Co Operators
George Robert Stirling Taylor
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For example, if adopted by a productive society or guild, in which the basis would be the wages of the workers instead of the purchases of the cus- tomers, we have here an exceedingly simple method of distributing the profits, on the basis of merit, over the whole staff. VI. By strictly limiting the interest paid on the capital of non-working shareholders, Co-operation has drawn a clear line between the two classes of Labour and Capital ; and by this method the two can be handled as the practic...al possibilities of the moment permit. For example, having once laid it down that Capital is only entitled to a limited share (instead of its unlimited interest under the present system), it will be only a matter of every-day practice to decide whether it is necessary to pay Capital as much as five per cent. , or whether it is necessary to raise any CO-OPERATIVE SOCIETIES 73 outside loan capital at all. It is, however, well to note that if the Co-operators had taken the heroic line of the extremists, and had refused to pay any interest whatsoever, then it is possible that they would not yet have been able to start the Co-operative system.
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