autarky
AW-tar-kee
/ˈɔːtɑːki/
Economic independence or self-sufficiency; a country or region that is self-sufficient.
A very specific term for a closed economy that does not trade with the outside world.
The story behind the word. From the Greek 'autarkeia', meaning 'self-sufficiency'. It was a key concept in Stoic philosophy before becoming a modern economic term.
Word relationships
- self-sufficiency: Self-sufficiency is the general concept; autarky is the formal economic term for it.
- interdependence: Interdependence implies mutual reliance between nations through trade.
Commonly confused with
- autocracy: Autocracy is rule by one person; autarky is economic self-sufficiency.
Word family
- autarkic (adjective): Relating to autarky; self-sufficient.
Collocations
- economic autarky
- policy of autarky
- national autarky
Example sentences
- "The dictator's pursuit of autarky led to a severe decline in the nation's standard of living." Economics
- "During the war, the nation was forced into a state of autarky because of the naval blockade." History
Memory hook
Auto-Turkey: Imagine a turkey that provides everything for itself and needs no other birds. Economic self-rule.
When not to use
Do not use for personal self-sufficiency; it is almost exclusively for states or large systems.
Fun facts
- True autarky is rare in the modern world because of the global nature of trade and resources.
Related words
Explore more words
autonomous, self-contained, autonomy, embargo, monopoly, austerity
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