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autarky

noun

/ˈɔ tɑr ki/

IPA:

Dictionary definition of autarky

A state of economic self-sufficiency, in which a country or region produces all the goods and services it needs without relying on outside trade.
"The village's autarky allowed it to maintain its traditional way of life without outside influence."

Detailed meaning of autarky

It is a term that suggests a high degree of isolation and self-reliance, and is often associated with closed, protectionist economic policies. Autarky can take different forms, such as a government's attempt to reduce dependence on imports by promoting domestic production, or a community's efforts to become self-sufficient through sustainable practices like agriculture and energy production. The concept of autarky has been debated by economists and policymakers, with some arguing that it can lead to inefficiency, reduced innovation, and economic stagnation, while others see it as a way to promote national security and preserve local culture and traditions. Overall, autarky is a term that refers to a high degree of economic self-sufficiency, and is often seen as an extreme or isolationist approach to economic policy.

Example sentences containing autarky

1. The country's leaders believed that autarky was the key to their economic prosperity.
2. The community's move towards autarky included growing their own food and generating their own energy.
3. The government's autarkic policies led to a decrease in imports and an increase in domestic production.
4. The company's autarkic practices helped it weather economic downturns without relying on external support.
5. The economist argued that autarky was not a viable long-term solution to the country's economic problems.
6. The community's move towards autarky was driven by a desire to reduce their ecological footprint.

History and etymology of autarky

The noun 'autarky' has an etymology that traces back to the Greek language. It is derived from the Greek word 'autarkeia,' which consists of two parts: 'auto,' meaning 'self,' and 'arkeo,' meaning 'sufficiency' or 'satisfaction.' Thus, 'autarky' inherently conveys the concept of self-sufficiency or self-reliance. When applied to economics, it describes a state in which a country or region produces all the goods and services it requires without depending on external trade or resources. The etymology of 'autarky' reflects the idea of self-contained economic independence, where a nation is self-sufficient in meeting its own needs. This term's Greek origins emphasize the self-reliant and self-sustaining nature inherent in the concept of autarky.

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Further usage examples of autarky

1. The autarkic state's emphasis on domestic production led to a decrease in the quality of imported goods.
2. The country's pursuit of autarky led to a decrease in international cooperation and trade.
3. The advocate for autarky argued that it would promote national security and independence.
4. The business's autarkic approach was criticized for its lack of innovation and resistance to change.
5. The autarky of the island nation made it difficult for outsiders to do business there.
6. During the war, the nation practiced autarky to reduce dependency on imports.
7. Achieving full autarky can be challenging in today's globalized economy.
8. The small island nation sought autarky to protect its fragile ecosystem.
9. Economic sanctions pushed the country toward a policy of autarky.
10. The government's autarky measures aimed to bolster national industries.
11. The village's traditional farming practices fostered a sense of autarky.
12. The nation's move toward autarky raised concerns about supply chain disruptions.
13. The leader advocated for agricultural autarky to ensure food security.
14. Achieving energy autarky through renewable sources became a top priority.
15. The wartime autarky policy led to rationing of essential goods.
16. The community's sustainable living practices reflected a form of autarky.
17. Economic self-sufficiency is a cornerstone of the country's autarky strategy.
18. The government promoted local production as a path to autarky.
19. The country's quest for autarky faced resistance from global trade partners.
20. The region's natural resources supported a degree of economic autarky.
21. The company aimed to achieve production autarky by reducing outsourcing.
22. Embracing technological innovation was central to the nation's pursuit of autarky.
23. The economy's reliance on imports made full autarky a distant goal.
24. The leader's autarky policies aimed to reduce vulnerability to international market fluctuations.
25. Some argue that a degree of autarky can enhance a nation's resilience in times of crisis.