4 ms·
It may become self sufficient(whatever that means) but there is little incentive to do so due the waste of resources/inefficiencies. If you have valuable goods
by thefounder 4y ago
It may become self sufficient(whatever that means) but there is little incentive to do so due the waste of resources/inefficiencies.
If you have valuable goods/services you can offset the transport costs and exchange them for food or whatever you need.
The same rules apply at the individual level. How many engineers are self sufficient? How many cities are self sufficient? Is it really worth it to build all kind of redudant systems (i.e people building bunkers for their families and learning survival skills) ? I think we already know the answer.
- true_religion 4y agoSelf sufficiency is what keeps you from starving when trade has a down turn. The US is a net food exporter so even if the tech industry implodes, the US still has food for its home market, and can raise trade barriers to keep it at home. On the other hand countries that must import food, suffer greatly when there’s any economic shock. Basic food stocks can double or tripe in price due to inflation affecting imports most strongly. And the country is trapped: it must export in order to get money to buy food, however demand is already down. Add to that that many counties run on credit, so failing an import/export balance leads to additional debt, increased inflation, and a vicious spiral to economic ruin.