Autarky

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Autarky

Absence of a cross-border trade in models of international trade.

Autarky

Economic self-sufficiency. That is, a country has autarky when it does not need to engage in any sort of international trade. Rather, it produces all of its goods and services within the country. Autarky is rare in the modern world, but some examples include Cambodia under the Khmer Rouge and India prior to 1991. Most analysts see autarky as economically inefficient, though some governments pursue the policy to encourage local industry or more rarely to keep their people from perceived threatening influences. See also: Import Substitution, Embargo, Economic Sanctions, Nonconvertible Currency.
References in periodicals archive ?
If jazz was, to take my cue from George McKay, "the sound of modernity," "formed from the experience of global circulation," "characterized by a restless internationalism," tied to the "developing transatlantic media and mass communications institutions and transport structures," and born out of multiple influences from Africa, Europe and America (McKay 3), fascist autarchy was then certainly at odds with it.
As a result an agent found to have committed fraud will find himself in autarchy so that his expected utility is E[U.
In discussing a conference paper in 1959, he used his insight into the command economy to correctly predict the failure of Khrushchev's Sovnarkhoz reforms because of the inherent contradictions between the Soviet 'sellers' market' and regional striving for autarchy, arguing that political imperatives would triumph over economic, that 'control' would trump 'efficiency' (1960b, pp.
But, according to Pauwels, American capitalists, while supportive of Hitler's pro-capital and anti-labour policies, soured on him because of his promotion of autarchy.
The long chased and cherished goal of attaining national autarchy in sugar has happily been behind in the recent past and on consistent basis.
The antipathy of slavery to freedom explains the iron curtain, the isolation, the autarchy of a society whose end is absolute power.
He was impatient with library authorities, such as that in Rugby, that sought to retain autarchy, calling instead for a "wider vision," a "broadening of outlook, a willingness to extend and to co-operate" in the pursuit of a "truly nation-wide service" (McColvin, 1944c, p.
As trade and capital flows among countries rise, the opportunity costs of forgoing those relationships increase, and autarchy carries larger and larger disadvantages.
At other points, however, Simon seems to sign on to efforts by recent proponents of Regionalism, who seek to curb suburban autarchy in order to enable urban spaces to compete more effectively with their surrounding jurisdictions.
A state is sovereign not by virtue of the fact that no restrictions are placed upon it by other states, nor by virtue of its (unrealizable in practice) economic autarchy, but by virtue of the fact that it makes its own decisions, for good or for ill, and those decisions are still its decisions even when they are dictated by circumstances or by the actions of other states.
Even when he is no longer alone iris personal autarchy remains--indeed it is increased: the parrot cries out his master's name; unprompted, Friday swears to be his slave for ever; Crusoe toys with the fancy that he is an absolute monarch; and one of his visitors even wonders if he is a god.
Conceivably the author felt it necessary to conjure up a form of British "absolutism" in order either to distract attention from the Brunei version and its contest with democracy, or to justify the Brunei version because of the odds allegedly faced by this micro-polity in search of rightful autarchy.