Inscriptional Evidences of Corporate Social Responsibility and the Social Role of Trade Guilds in Medieval Karnataka with Special Reference to Hoysala Period

Abstract

This paper focuses on the trade guilds during Hoysala period in Medieval Karnataka. The paper examines the factors which assisted the flourishing guild system and also contemplates on the factors leading to the decline of trade guilds.   Hoysala kings expanded the empire across South India and were able to dominate natural resources of the vast regions. The Medieval Karnataka economy under Hoysala kings exhibited affluence, prosperity, and wealth. Trade guilds and merchants guilds donated to social causes and were very popular with the general public,. Inscriptions give detailed information about the philanthropic role played by trade guilds. Rapid alteration of Political hegemonies diminished the support forms for medieval trade guilds. The political support provided by royal dynasties weakened over time. Hence, the backbone for flourishing trade contacts also destabilized and weakened. As medieval Karnataka witnessed far reaching political transformation  after the fall of the Hoysala dynasty ,resultant trade guilds influence also diminished and their reliability turned towards new emerging  power centre.