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C. Wright Mills rejected "statist socialism." Statist socialism is an economic system with many socialist characteristics, such as "public ownership of major industries" and many other factors that help the government develop socialism via policy.
His rejection of this philosopy of government led Mills to develop his theory of "Guild Socialism," a position first advanced by G.D.H. Cole. Guild socialism advocates "democracy in the shop, works and industry." Guild socialism originated from skilled craftsmen in the Middle Ages in England.
Guild Socialism, in Mills theory, provides "key roles for the state," which, in his vision, would be involved in the "regulation of guilds and their markets." These roles for the state, he argues, will protect not only shareholders, but also customers. In this way, the "power elite" seizure of power could be avoided. The "power elite" is a term Mills invented to describe the consolidation of "power among the U.S. political, military, and economic" forces.
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