Autarky (Noun)
Meaning
Economic independence as a national policy.
Classification
Nouns denoting natural processes.
Examples
- The country's goal of autarky led to significant investments in domestic manufacturing and agriculture.
- The new government's policies were designed to promote autarky by reducing reliance on foreign imports.
- Critics argued that the pursuit of autarky would lead to economic stagnation and isolation from the global market.
- The concept of autarky as a national policy has been debated among economists, with some arguing that it is unrealistic in a globalized world.
- The country's efforts towards autarky were severely hindered by its lack of natural resources and limited domestic production capacity.