autarky

autarky definition - business

autarky

The idea that a region or nation should pursue a policy of economic self-sufficiency. Where such a philosophy prevails, authorities decline to engage in trade outside their borders even at the expense of reducing the standard of living of their citizens. See also closed economy.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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