autarky

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autarky

1. (esp of a political unit) a system or policy of economic self-sufficiency aimed at removing the need for imports
2. an economically self-sufficient country

autarky

or

autarchy

the practice or policy of economic self-sufficiency

Autarky

 

self-sufficiency, self-satisfaction; in the economic sense, the creation of a closed, self-sufficient economy in a separate capitalist country, leading to a break in traditional international economic ties.

In a pure form, autarky existed only in precapitalistic formations in a natural economy. Autarky as a policy is in conflict with the demands of the international division of labor. Under imperialism, when all countries are closely connected by a system of international economic relations, there are only tendencies toward autarky, arising as a result of the intensification of the contradictions of capitalism. These tendencies were most powerful during the 1930’s when, as a result of the world economic crisis of 1929–33, a break occurred in the previously existing foreign trade and other economic relationships, and countries conducted a policy of “ruining their neighbor.” In the most aggressive imperialistic countries autarky began to serve the aims of creating a relatively closed economy capable of producing all that was necessary for conducting a war under the conditions of economic blockade. Autarky was the official economic theory of Fascism. After World War II autarkic tendencies—for instance, high obstructive duties—are to some degree inherent in several closed trade economic blocs such as the European Economic Association and the European Association for Free Trade.

V. V. MOTYLEV

References in periodicals archive ?
0](c), among allocations that are feasible for autarkic production.
12) The monetary steady state can be an improvement (that is, everyone in the model can be made better off) over the autarkic equilibrium.
In the autarkic world of conflict, the amounts consumed and produced are identical.
6) Figure 1A describes the case of autarkic saving, and Figure 1B the case of intermediated saving.
community segmentation resulted in the autarkic definition of rights
Germany, they wrote, needed more space to ensure a high standard of living in an age of vast and autarkic empires--and to settle the country's rapidiy increasing population.
Nevertheless the innate viciousness in the North Korean economy is rooted in the structural inadequacy of its industry: the regime's commitment to autarkic juche, its centralised bureaucratic planning, its concentration on heavy industry, and the extreme disrepair of even that (since there is no money to update equipment).
There is competition among different counties--new transition economies, the newly opened autarkic countries.
It does not follow that developing countries would have been better off had they closed themselves off from the process of globalisation and tried to become autarkic.
The results suggest that the more severe the informational frictions, the more likely the generationally autarkic economy will be inefficient and, hence, the greater the need for valued fiat money.
15 In a simple version of this model, countries are autarkic within the no-arbitrage band and the real exchange rate is indeterminate within the limits of that band.
Since independence (and indeed even before) the Indian state has been highly interventionist, exercising direct ownership and imposing controls on the private sector and following a trade policy that has tended toward autark)t It is not surprising that the government of a poor, newly-independent nation followed a policy of state-led autarkic industrialization in the late 1940s and 1950s, a time when development experts throughout the world viewed markets with skepticism and the Soviet experiment with socialist planning attracted widespread attention.