Autarky | Wikipedia audio article
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Date: 2018-11-27

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Autarky

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SUMMARY
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Autarky is the quality of being self-sufficient; the term is usually applied to political states or their economic systems. Autarky exists whenever an entity can survive or continue its activities without external assistance or international trade. If a self-sufficient economy also refuses all trade with the outside world then it is called a closed economy. The term "closed economy" is also used technically as an abstraction to allow consideration of a single economy without taking foreign trade into account – i.e. as the antonym of open economy. Autarky in the political sense is not necessarily an economic phenomenon; for example, a military autarky would be a state that could defend itself without help from another country, or could manufacture all of its weapons without any imports from the outside world.
Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially left-wing creeds like African socialism, mutualism, council communism, syndicalism (especially anarcho-syndicalism) and leftist populism. It has also been used in temporary, limited ways by conservative, centrist and nationalist movements, such as the American system, the Meiji Restoration, social corporatism, Juche, and traditionalist conservatism. Fascist and far-right movements occasionally claimed to strive for autarky in platform or propaganda, but in practice crushed existing movements towards self-sufficiency and maintained extensive capital connections in efforts to ready for expansionist war and genocide while allying with traditional business elites.Autarky may be a policy of a state or other entity when it seeks to be self-sufficient as a whole, but also can be limited to a narrow field such as possession of a key raw material. For example, many countries have a policy of autarky with respect to foodstuffs and water for national security reasons. By contrast, autarky may be a result of economic isolation or external circumstances in which a state or other entity reverts to localized production when it lacks currency or excess production to trade with the outside world.