3 ms·
What you're describing is a modern form of mercantilism, not autarky. True autarky is neither imports nor exports and aims for complete independence from exter
by smallnamespace 9y ago
What you're describing is a modern form of mercantilism, not autarky.
True autarky is neither imports nor exports and aims for complete independence from external economic events. Even if all you're importing is raw materials, a spike in the price can throw your economy into a tailspin, e.g. the oil crisis of the 70s in the West.