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Autarky |
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AutarkyThe situation of not engaging in international trade; self-sufficiency. (Not to be confused with "autarchy," which in at least some dictionaries is a political term rather than an economic one, and means absolute rule or power.)AutarkyAbsence of a cross-border trade in models of international trade.Autarky Similar MatchesAutarky priceAutarky pricePrice in autarky; that is, the price of something within a country when it is not traded by that country. Relative autarky prices turn out to be the most theoretically robust (but empirically elusive) measures of comparative advantage. |
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