From The Distributist Review
By Russell Sparkes
The Guild Idea
The Revival of the Guild Idea
The Failure of Distributism
The New Thinking
The Principle of Mutual Support
Footnotes 1. In economics a commodity is something widely available and therefore of low added value. “Added value” is another way of describing the profit accruing to a business, or its profit margin. Let us use the example of a small shoemaker who makes two shoes a day. If he can sell them for £100 the pair, with his costs being £80, his added value or profit margin is 20%; if he can sell them for £160, his value added is 50%. Businesses with high-added value generate large profits that can be reinvested to raise value-added still more, while businesses with low value-added tend to slowly die as machines wear out and they cannot afford to replace them.
Russell Sparkes is Chief Investment Officer of the Central Finance Board of the Methodist Church. He has been Treasurer of the Linacre Centre, a Catholic medical ethics charity, and was Chairman of the Chesterton Institute, promoting the thought of G.K. Chesterton, particularly its economic philosophy based upon Catholic social teaching. His writings include: G.K. Chesterton, Prophet of Orthodoxy (Harper Collins 1996), an introduction to Chesterton's religious writings, and Sound of Heaven - A Treasury of Catholic Verse (St Paul's 2000). In 2008 he wrote, Global Warming, Catholic Teaching on the Environment for the Catholic Truth Society. He is currently working on a study of the medieval guilds and their modern relevance.