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Quotes of the day:
I, on the other hand, have a degree from the University of Life, a diploma from the School of Hard Knocks, and three gold stars from the Kindergarten of Getting the Shit Kicked Out of Me.
An autarky refers to the state of self-reliance, and it typically is applied to an economic system or nation characterized by self-sufficiency and limited trade. The definition of autarky comes from the Greek—autos, meaning self and arkein, meaning to be strong enough, to suffice. Fully autarkic states are those with closed economies and without any sources of external support, trade or aid.
Autarky (Closed Economy*) vs. FreeTrade: Definitions, Explanation/Comparison and Examples
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