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Autarky (Greek, ‘self-sufficiency’), in economics, is a Utopian aim. It is an economic system that is totally self-sufficient, producing all that is consumed and importing nothing from outside. However, because no country is able to produce the whole range of goods demanded at competitive prices, in practice autarky condemns its disciples to inefficiency and relative poverty.
Some countries\' leaders have attempted to achieve autarky in order to eliminate any reliance on foreign materials and better to defend the society in time of war. Others have pursued autarky together with social isolation to maintain the mores and genetic purity of the native population or to maintain the leaders\' control. In today\'s world of high-tech production and minding one\'s neighbours\' business, such efforts are virtually certain to fail. TF |
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