autarkia

Autarkia is a term derived from Greek, meaning self-sufficiency. In economics and political science, it refers to a state of economic independence or self-reliance, where a nation aims to produce all of its own goods and services without relying on imports. This concept often implies a desire to minimize or eliminate international trade.

The principle of autarky can be applied at various levels, from individual households to entire nations. Historically, some nations have pursued autarkic policies, particularly during times of conflict or perceived external threat. The motivations behind such policies can include national security concerns, a desire to foster domestic industries, or ideological opposition to globalization and foreign influence.

However, achieving complete autarky is generally considered impractical and economically inefficient for most modern nations. Specialization and trade allow countries to leverage their comparative advantages, leading to greater overall production and access to a wider variety of goods and services at lower costs. Attempts at autarky often result in shortages, higher prices, and reduced innovation due to a lack of competition and exposure to international markets. While some degree of national self-sufficiency in critical sectors might be a policy goal, absolute autarky is rarely pursued or sustained in the long term by developed economies.