Autarky

Autarky is the quality of being self-sufficient; the term is usually applied to political states or their economic systems. Autarky exists whenever an entity can survive or continue its activities without external assistance or international trade. If a self-sufficient economy also refuses all trade with the outside world then it is called a closed economy.[1] The term "closed economy" is also used technically as an abstraction to allow consideration of a single economy without taking foreign trade into account – i.e. as the antonym of open economy. Autarky in the political sense is not necessarily an economic phenomenon; for example, a military autarky would be a state that could defend itself without help from another country, or could manufacture all of its weapons without any imports from the outside world.

Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially left-wing creeds like African socialism, mutualism, council communism, Swadeshi, syndicalism (especially anarcho-syndicalism) and leftist populism. It has also been used in temporary, limited ways by conservative, centrist and nationalist movements, such as the American system, Juche, mercantilism, the Meiji Restoration, social corporatism, and traditionalist conservatism. Fascist and far-right movements occasionally claimed to strive for autarky in platform or propaganda, but in practice crushed existing movements towards self-sufficiency[2] and established extensive capital connections in efforts to ready for expansionist war and genocide[3] while allying with traditional business elites.[4]

Autarky may be a policy of a state or other entity when it seeks to be self-sufficient as a whole, but also can be limited to a narrow field such as possession of a key raw material. For example, many countries have a policy of autarky with respect to foodstuffs[5] and water for national security reasons. By contrast, autarky may be a result of economic isolation or external circumstances in which a state or other entity reverts to localized production when it lacks currency or excess production to trade with the outside world.[6][7]

Etymology

The word autarky is from the Greek: αὐτάρκεια, which means "self-sufficiency" (derived from αὐτο-, "self," and ἀρκέω, "to suffice"). The term is sometimes confused with autocracy (Greek: αὐτoκρατία "government by single absolute ruler") or autarchy (Greek: αὐταρχία – the idea of rejecting government and ruling oneself and no other).

History

Ancient and medieval

Early state societies that can be regarded as autarkic include nomadic pastoralism and palace economy, though over time these tend towards becoming less self-sufficient and more interconnected. The late Bronze Age, for example, saw formerly self-sufficient palace economies rely more heavily on trade, which may have been a contributing factor to the eventual Bronze Age Collapse when multiple crises hit those systems at once. After that collapse, the ideal of autarkeia formed a part of emerging Greek political culture, emphasizing economic self-sufficiency[8] and local self-rule.

Medieval communes combined an attempt at overall economic self-sufficiency through the use of common lands and resources with the use of mutual defense pacts, neighborhood assembles and organized militias to preserve local autonomy[9] against the depredations of the local nobility. Many of these communes later became trading powers such as the Hanseatic League. In some cases, communal village economies maintained their own debt system[10] as part of a self-sufficient economy and to avoid reliance on possibly hostile aristocratic or business interests.

19th and early 20th centuries

Autarkic ambitions[11] can also be seen in the Populist backlash to the exploitations of free trade in the late 19th-century and in many early Utopian Socialist movements. Mutual aid societies like the Grange and Sovereigns of Industry attempted to set up self-sufficient economies (with varying degrees of success) in an effort to be less dependent on what they saw as an exploitative economic system and to generate more power to push for reforms.

Early socialist movements used these autarkic efforts to build their base with institutions like the Bourse de travail, socialist canteens and food assistance. These played a major role in securing workers' loyalty and building those parties into increasingly powerful institutions (especially in Europe) throughout the late 19th and early 20th-centuries. Through these cooperatives[12] "workers bought Socialist bread and Socialist shoes, drank Socialist beer, arranged for Socialist vacations and obtained a Socialist education."

Local and regional farming autarkies in many areas of Africa and Southeast Asia were displaced[13] by European colonial administrations in the late 19th and early 20th centuries, who sought to push smallholder villages into larger plantations that, while less productive, they could more easily control.

Communist movements embraced or dismissed autarky as a goal at different times. Some socialist communities like Charles Fourier's phalansteres strove for self-sufficiency. The early USSR in the Russian Civil War strove for a self-sufficient economy[14] with War Communism, but later pursued international trade vigorously under the New Economic Policy. However, while the Soviet government during the latter period encouraged some international trade, it also permitted and even encouraged[15] local autarkies in many peasant villages.

Right-wing totalitarian governments that have claimed to strive for autarky have often pursued a very different policy in fact, just as some claimed to be in favor of socialism while killing socialists. In 1921 Italian Fascists attacked existing left-wing autarkic projects at the behest of large landowners, destroying roughly 119 labor chambers, 107 cooperatives and 83 peasant offices that year alone.[16] Nazi Germany under economics minister Hjalmar Schacht claimed to strive for self-sufficiency but pursued major international trade, albeit under a different system, to escape the terms of the Treaty of Versailles. The regime would continue to conduct trade, including with countries like the United States, including connections with major companies like IBM and Coca-Cola.

After World War II

Economic self-sufficiency was pursued as a goal by some members of the Non-Aligned Movement, such as India under Jawaharlal Nehru[17] and Tanzania,[18] under the ideology of Ujamaa[19] and Swadeshi. That was partly an effort to escape the economic domination of both the United States and the Soviet Union while modernizing the countries' infrastructure.

Small-scale autarkies were sometimes used by the Civil Rights Movement, such as in the case of the Montgomery Bus Boycott, where boycotters set up their own self-sufficient system of cheap or free transit to allow black residents to get to work and avoid using the then-segregated public systems in a successful effort to bring political pressure.

After World War II, Autonomist efforts in Europe embraced autarkic projects in an effort to craft anti-authoritarian left-wing spaces, especially influencing the social center and squatters' rights movements. Such efforts remain a common feature of Autonomist and anarchist movements on the continent today. The Micropolis social centre in Greece, for example, has gyms, restaurants, bars, meeting space and free distribution of food and resources.[20]

Around 1970, the Black Panther Party moved away from communist internationalism towards "intercommunalism," a term coined[21] by Huey P. Newton, "to retain a grasp on the local when the rest of radical thought seemed to be moving global." Intercommunalism drew[22] from left-wing autarkic projects like free medical clinics and breakfast programs, "explicitly articulated as attempts to fill a void left by the failure of the federal government to provide resources as basic as food to black communities."

Autarkic efforts to counter forcible privatization of public resources and maintain local self-sufficiency also formed a key part of alter-globalization efforts. The Cochabamba Water War had Bolivians successfully oppose the privatization of their water system to keep the resource in public hands.[23]

Contemporary

Today, national economic autarkies are relatively rare. A commonly-cited example is North Korea, based on the government ideology of Juche (self-reliance), which is concerned with maintaining its domestic localized economy in the face of its isolation. However, even North Korea has extensive trade with Russia, China, Syria, Iran, Vietnam, and many countries in Europe and Africa. North Korea had to import food during a widespread famine in the 1990s.

A better modern example at a societal level is the autonomous region of Rojava, the autonomous northern region of Syria. Largely cut off from international trade, facing multiple enemies, and striving for a society based on democratic confederalism and the ideals of Murray Bookchin, Rojava's government and constitution emphasize economic self-sufficiency[24] directed by neighborhood and village councils, with property and business belonging to those who live in or use it towards that goal.

An example of an contemporary effort at localized autarky, incorporating the concept's history from black nationalism, Ujamaa and African-American socialism and the civil rights movement, is Cooperation Jackson,[25] a movement aimed at creating a self-sufficient black working class economy in Jackson, Mississippi. The movement has aimed[26] to secure land and build self-sufficient cooperatives and workplaces "to democratically transform the political economy of the city" and push back against gentrification. Cooperation Jackson also saw a gain in electoral political power when its involvement proved pivotal to the 2013 mayoral election of Chokwe Lumumba and the 2017 election of his son, Chokwe Antar Lumumba.

Support and opposition

Local autarky

Societal autarky

Support

Opposition

Macroeconomic theory

Support

Opposition

Relevant microeconomic theory

See also

References

  1. ^ Glossary of International Economics Archived 2007-12-12 at the Wayback Machine.
  2. ^ De Grand, Alexander J. (2000) [1938]. Italian fascism : its origins & development (3rd ed.). Lincoln: University of Nebraska Press. ISBN 0803266227. OCLC 42462895.
  3. ^ Edwin., Black, (2001). IBM and the Holocaust : the strategic alliance between Nazi Germany and America's most powerful corporation (1st ed.). New York: Crown Publishers. ISBN 0609607995. OCLC 45896166.
  4. ^ O., Paxton, Robert (2005). The anatomy of fascism (1st Vintage books ed.). New York: Vintage Books. ISBN 1400033918. OCLC 58452991.
  5. ^ "Archived copy" (PDF). Archived (PDF) from the original on 2014-01-20. Retrieved 2014-01-18.CS1 maint: Archived copy as title (link)
  6. ^ Mansfield, Edward D.; Pollins, Brian M., eds. (2009-09-15). "Computer Simulations of International Trade and Conflict". Economic Interdependence and International Conflict: New Perspectives on an Enduring Debate: 333. ISBN 0472022938.
  7. ^ Judt, Tony (2011-05-01). Socialism in Provence, 1871–1914. p. 263. ISBN 9780814743553.
  8. ^ 1924-, Mossé, Claude, (1969). The ancient world at work. New York,: Norton. pp. 27–28. ISBN 0393053989. OCLC 66672.
  9. ^ 1921-2006,, Bookchin, Murray,. Urbanization without cities : the rise and decline of citizenship. Montréal. pp. 105–108. ISBN 9781551646237. OCLC 1046676911.
  10. ^ David., Graeber, (2011). Debt : the first 5,000 years. Brooklyn, N.Y.: Melville House. ISBN 1612191290. OCLC 426794447.
  11. ^ Lawrence., Goodwyn. The Populist moment : a short history of the agrarian revolt in America. New York. ISBN 0195024176. OCLC 3650099.
  12. ^ Tuchman, Barbara W. (2012). The Guns of August: The proud tower. MacMillan, Margaret. New York, NY: Library of America. p. 1046. ISBN 159853145X. OCLC 731911132.
  13. ^ C., Scott, James (1998). Seeing like a state : how certain schemes to improve the human condition have failed. New Haven: Yale University Press. ISBN 0300070160. OCLC 37392803.
  14. ^ Bruce., Lincoln, W. (1999). Red victory : a history of the Russian Civil War (1st Da Capo Press ed.). New York: Da Capo. ISBN 0306809095. OCLC 40510540.
  15. ^ 1921-2010., Lewin, Moshe, (1994). The making of the Soviet system : essays in the social history of interwar Russia. New York: New Press. ISBN 1565841255. OCLC 30841557.
  16. ^ De Grand, Alexander J. (2000). Italian fascism : its origins & development (3rd ed.). Lincoln: University of Nebraska Press. pp. 31–33. ISBN 0803266227. OCLC 42462895.
  17. ^ NAYAR, BALDEV RAJ (1997). "Nationalist Planning for Autarky and State Hegemony : Development Strategy Under Nehru". Indian Economic Review. 32 (1): 13–38.
  18. ^ Malima, Kighoma A. (1979). "PLANNING FOR SELF-RELIANCE TANZANIA'S THIRD FIVE YEAR DEVELOPMENT PLAN". Africa Development / Afrique et Développement. 4 (1): 37–56.
  19. ^ Jan., Blommaert, (2014). State Ideology and Language in Tanzania : Second and Revised Edition (2nd ed.). Oxford: Oxford University Press. ISBN 9780748668267. OCLC 1024254210.
  20. ^ activist),, Bray, Mark (Political. Antifa : the anti-fascist handbook. Brooklyn, NY. ISBN 1612197035. OCLC 984595655.
  21. ^ "Huey Newton introduces Revolutionary Intercommunalism, Boston College, November 18 1970". libcom.org. Retrieved 2018-05-12.
  22. ^ "The Havoc of Less". The New Inquiry. 2017-09-15. Archived from the original on 2018-02-06. Retrieved 2018-02-06.
  23. ^ Oscar., Olivera, (2004). Cochabamba!: Water War in Bolivia. Lewis, Tom,. Cambridge, Massachusetts: South End Press. ISBN 9780896087026. OCLC 56194844.
  24. ^ Strangers In A Tangled Wilderness (ed.). A small key can open a large door: the Rojava revolution. United States. ISBN 193866017X. OCLC 900796070.
  25. ^ "Welcome". Cooperation Jackson. Retrieved 2018-07-15.
  26. ^ Jackson rising : the struggle for economic recovery and black self-determination in Jackson, Mississippi. Nangwaya, Ajamu,, Cooperation Jackson,. Montreal, Quebec. ISBN 9780995347458. OCLC 976416348.
  27. ^ Gorz, Andre. "Towards a Dual Society." Adieux au proletariat, translated by Mike Sonenscher, Pluto Press London, 1982. pp. 102-103.
Battle for Grain

The Battle for Grain was an economic policy undertaken by the Fascists in Italy during the 1920s as a move toward autarky.

Comparative advantage

The law or principle of comparative advantage holds that under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage. Comparative advantage is the economic reality describing the work gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress. In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. One does not compare the monetary costs of production or even the resource costs (labor needed per unit of output) of production. Instead, one must compare the opportunity costs of producing goods across countries.David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one country's workers are more efficient at producing every single good than workers in other countries. He demonstrated that if two countries capable of producing two commodities engage in the free market, then each country will increase its overall consumption by exporting the good for which it has a comparative advantage while importing the other good, provided that there exist differences in labor productivity between both countries. Widely regarded as one of the most powerful yet counter-intuitive insights in economics, Ricardo's theory implies that comparative advantage rather than absolute advantage is responsible for much of international trade.

Consumption–possibility frontier

The CPF, or consumption–possibility frontier, is the budget constraint where participants in international trade can consume. Under autarky this constraint is identical to the production–possibility frontier.[1][2][3]

East Asian model of capitalism

The East Asian model (sometimes known as state-sponsored capitalism) is an economic system where the government invests in certain sectors of the economy in order to stimulate the growth of new (or specific) industries in the private sector. It generally refers to the model of development pursued in East Asian economies such as Malaysia, Singapore, Brunei, Hong Kong, Macau, Japan, South Korea, and Taiwan. It has also been used to classify the contemporary economic system in Mainland China since the Deng Xiaoping economic reforms during the late 1970s.Key aspects of the East Asian model include state control of finance, direct support for state-owned enterprises in "strategic sectors" of the economy or the creation of privately owned "national champions", high dependence on the export market for growth, and a high rate of savings. It is similar to dirigisme.

This economic system differs from a centrally planned economy, where the national government would mobilize its own resources to create the needed industries which would themselves end up being state-owned and operated. East Asian model of capitalism refers to the high rate of savings and investments, high educational standards, assiduity and export-oriented policy.

Economic liberalization

Economic liberalization (or economic liberalisation) is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities; the doctrine is associated with classical liberalism. Thus, liberalization in short is "the removal of controls" in order to encourage economic development. It is also closely associated with neoliberalism.

Most high-income of the countries have pursued the path of economic liberalization in the recent decades with the stated goal of maintaining or increasing their competitiveness as business environments. Liberalization policies include partial or full privatisation of government institutions and assets, greater labour market flexibility, lower tax rates for businesses, less restriction on both domestic and foreign capital, open markets, etc. In support of liberalization, former British prime minister Tony Blair wrote that: "Success will go to those companies and countries which are swift to adapt, slow to complain, open and willing to change. The task of modern governments is to ensure that our countries can rise to this challenge."In developing countries, economic liberalization refers more to liberalization or further "opening up" of their respective economies to foreign capital and investments. Three of the fastest growing developing economies today; Brazil, China, and India, have achieved rapid economic growth in the past several years or decades, in part, from having "liberalized" their economies to foreign capital.Many countries nowadays, particularly those in the third world, arguably have no choice but to also "liberalize" their economies in order to remain competitive in attracting and retaining both their domestic and foreign investments. This is referred to as the TINA factor, standing for "there is no alternative". For example, in 1991, India had little choice but to implement economic reforms. Similarly, in the Philippines, the contentious proposals for Charter Change include amending the economically restrictive provisions of their 1987 constitution.The total opposite of a liberalized economy would be North Korea's economy with their "self-sufficient" economic system that is closed to foreign trade and investment (see autarky). However, North Korea is not completely separate from the global economy, since it receives aid from other countries in exchange for peace and restrictions in their nuclear programme. Another example would be oil-rich countries such as Saudi Arabia and the United Arab Emirates, which see no need to further open up their economies to foreign capital and investments since their oil reserves already provide them with huge export earnings.

The adoption of economic reforms in the first place and then its reversal or sustenance is a function of certain factors, presence or absence of which will determine the outcome. Sharma (2011) explains all such factors. The author's theory is fairly generalizable and is applicable to the developing countries which have implemented economic reforms in the 1990s.

Economic sanctions

Economic sanctions are commercial and financial penalties applied by one or more countries against a targeted self-governing state, group, or individual. Economic sanctions may include various forms of trade barriers, tariffs, and restrictions on financial transactions. An embargo is similar, but usually implies a more severe sanction.

Economic sanctions generally aim to change the behavior of elites in the target country. However, the efficacy of sanctions is debatable and sanctions can have unintended consequences.

Economic sanctions are not necessarily imposed because of economic circumstances—they may also be imposed for a variety of political, military, and social issues. Economic sanctions can be used for achieving domestic and international purposes.An embargo (from the Spanish embargo, meaning hindrance, obstruction, etc. in a general sense, a trading ban in trade terminology and literally "distraint" in juridic parlance) is the partial or complete prohibition of commerce and trade with a particular country/state or a group of countries. Embargoes are considered strong diplomatic measures imposed in an effort, by the imposing country, to elicit a given national-interest result from the country on which it is imposed. Embargoes are generally considered legal barriers to trade, not to be confused with blockades, which are often considered to be acts of war.Embargoes can mean limiting or banning export or import, creating quotas for quantity, imposing special tolls, taxes, banning freight or transport vehicles, freezing or seizing freights, assets, bank accounts, limiting the transport of particular technologies or products (high-tech) for example CoCom during the cold-war.In response to embargoes, an independent economy or autarky often develops in an area subjected to heavy embargo. Effectiveness of embargoes is thus in proportion to the extent and degree of international participation.

Embargo can be an opportunity to some countries to develop faster a self-sufficiency.

Energy independence

Energy independence is independence or autarky regarding energy resources, energy supply and/or energy generation by the energy industry.

Energy dependence in general refers to either mankind's general dependence on primary or secondary energy for energy consumption (fuel, transport, automation, etc.). In a narrower sense, it may describe the dependence of one country on energy resources from another country.

Energy dependency shows the extent to which an economy relies upon imports in order to meet its energy needs. The indicator is calculated as net imports divided by the sum of gross inland energy consumption plus bunkers.

Generally, a higher level of dependence is associated with a higher energy security risk, because of the possible interference of trade regulations, international armed conflicts, etc..

A crucial contribution on the road to energy independence is energy efficiency because efficient use of energy can build on individual efforts in power saving instead of having to rely on costly large-scale infrastructure.

Usually, a country will rely on local and global energy renewable and non-renewable resources, a mixed-model solution that presumes various energy sources and modes of energy transfer between countries like electric power transmission, oil transport (oil and gas pipelines and tankers), etc.

The European dependence on Russian energy is a case in point.

Planning and coordination in the strive for energy independence is the business of energy policy and energy management.

Energy dependence is also used as a subindicator for Energy Globalisation Index.

Energy policy of the Soviet Union

The energy policy of the Soviet Union was an important feature of the country's planned economy from the time of Lenin onward. The Soviet Union was virtually a self-sufficient energy nation; the development of the energy sector started with Stalin's autarky policy. During the country's 70 years of existence, the primary way of securing economic growth were based on large inputs of natural resources. But by the 1960s, this method was less efficient. In contrast to other nations who shared the same experience, technological innovation was not strong enough to replace the energy sector in importance.During the later years of the Soviet Union, most notably during the Brezhnev stagnation era, Soviet authorities exploited fuel resources from inhospitable areas, notably Siberia and the Far East. Construction of industry in these locations required massive input by the Soviet regime. Energy resources were still the backbone of the Soviet economy in the 1970s, as seen during the 1973 oil crisis, which put a premium on Soviet energy resources. High prices for energy resources in the aftermath of the 1973 oil crisis led the Soviet authorities to engage more actively in foreign trade with First World countries, particularly Europe (natural gas) and Japan (oil). In exchange for energy resources, the Soviet Union would receive First World technological developments. So, despite the stagnation, the Soviet Union under Leonid Brezhnev moved from being an autarkic economy to a country trying to integrate into the world market.

During its existence, the Soviet Union had the largest supply of untapped energy resources within its borders when compared to any other country. Total energy production grew from 10.25 million barrels per day of oil equivalent (mbdoe) in 1960 to 27.58 million barrels per day of oil equivalent (mbdoe) in 1980. Production and exports for the Soviet Union did not keep growing as was anticipated by Soviet planners. During the late-1950s, mining activity shifted for European Russia to Eastern Russia for more mineable resources. The increased distances between mines and coal shipping ports decreased the efficiency of coal exports. Furthermore, the USSR struggled to transport its Eastern resources to its Western side for later consumption and exportation.Policy used by the Soviet leadership to direct energy resources was vital to the military and economic success of the country. Stagnation in Soviet energy production directly affected Eastern Europe energy supplies. The policy acted on in the USSR affected their satellite nations and to a lesser extent, the entire world. The political maneuvers used by the USSR with regard to energy exports would come to be mirrored by the Russian government to follow.

Gains from trade

In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other. In technical terms, they are the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade.

Geopolitik

Geopolitik is the branch of uniquely German geostrategy. It developed as a distinct strain of thought after Otto von Bismarck's unification of the German states but began its development in earnest only under Emperor Wilhelm II. Central concepts concerning the German race regarding economic space demonstrate continuity from the German Empire to Adolf Hitler's Third Reich. However, imperial geostrategist, German geopoliticians, and Nazi strategists did not have extensive contacts with one another, suggesting that German geopolitik was not copied or passed on to successive generations but perhaps reflected the more permanent aspects of German geography, political geography, and cultural geography.

It developed from widely varied sources, including the writings of Oswald Spengler, Alexander Humboldt, Karl Ritter, Friedrich Ratzel, Rudolf Kjellén, and Karl Haushofer. It was eventually adapted to accommodate the ideology of Hitler.

Its defining characteristic is the inclusion of organic state theory, informed by social Darwinism. It was characterized by clash of civilizations-style theorizing. It is perhaps the closest of any school of geostrategy to a purely nationalistic conception of geostrategy, which ended up masking other more universal elements.

Germany acted as a revisionist state within the international system during both World Wars by attempting to overthrow British domination, and counter what it saw as rising US and Russian hegemony. As a latecomer to nationhood proper, lacking colonies or markets for industrial output but also experiencing rapid population growth, Germany desired a more equitable distribution of wealth and territory within the international system. Some modern scholars have begun to treat the two World Wars, participated in by Germany, as a single war in which the revisionist Germany attempted to bid for hegemonic control with which to reorder the international system.German foreign policy was largely consistent in both wars. The Nazi foreign policy was unique insofar as it learned from what it saw as past imperial mistakes but essentially followed the very same designs laid out by German geopolitik and the historical record of the empire.

Hossbach Memorandum

The Hossbach Memorandum was the summary of a meeting in Berlin on 5 November 1937 between German dictator Adolf Hitler and his military and foreign policy leadership in which Hitler's future expansionist policies were outlined. The meeting marked a turning point in Hitler's foreign policies, which then began to radicalize.

According to the memorandum, Hitler did not want war in 1939 with Britain and France. He wanted small wars of plunder to help support Germany's struggling economy. It was named for the keeper of the minutes of the meeting, Hitler's military adjutant, Colonel Count Friedrich Hossbach. Also attending the meeting were the Reich Foreign Minister, Baron Konstantin von Neurath; the Reich War Minister, Field Marshal Werner von Blomberg; the Army Commander, General Werner von Fritsch; the Kriegsmarine Commander, Admiral Erich Raeder; and the Luftwaffe Commander, Hermann Göring.

Index of international trade topics

This is a list of international trade topics.

Absolute advantage

Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS)

Asia-Pacific Economic Cooperation (APEC)

Autarky

Balance of trade

Barter

Bilateral Investment Treaty (BIT)

Bimetallism

Branch plant economy

Bretton Woods conference

Bretton Woods system

British timber trade

Cash crop

Central European Free Trade Agreement (CEFTA)

Comparative advantage

Cost, Insurance and Freight (CIF)

Council of Arab Economic Unity

Currency

Customs broking

Customs union

David Ricardo

Doha Development Round (Of World Trade Organization)

Dominican Republic – Central America Free Trade Agreement (DR-CAFTA)

Enabling clause

Enhanced Integrated Framework for Trade-Related Assistance for the Least Developed Countries

European Union (EU)

Export documentsATA Carnet

ATR.1 certificate

Certificate of origin

EUR.1 movement certificate

Form A

Form B

TIR CarnetEuropean Free Trade Association (EFTA)

Exchange rate

Factor price equalization

Fair trade

Foreign direct investment (FDI)

Foreign exchange option

Foreign Sales Corporations (FSCs)

Forfaiting

Free Trade Area of the Americas (FTAA)

Free On Board (FOB)

Free trade

Free trade area

Free trade zone (FTZ)

General Agreement on Tariffs and Trade (GATT)

Generalized System of Preferences (GSP)

Genetically modified food controversies

Geographical pricing

Giant sucking sound (a colorful phrase by Ross Perot)

Global financial system (GFS)

Globalization

Gold standard

Gravity model of trade

Gresham's law

Heckscher-Ohlin model (H-O model)

Horizontal integration

Import

Import substitution industrialization (ISI)

International Chamber of Commerce (ICC)

International factor movements

International law

International Monetary Market (IMM)

International Monetary Fund (IMF)

International Trade Organization (ITO)

Internationalization

Internationalization and localization (G11n)

ISO 4217 (international standard for currency codes)

Leontief paradox

Linder hypothesis

List of tariffs and trade legislation

Maquiladora

Mercantilism

Merchant bank

Money market

Most favoured nation (MFN)

Nearshoring

New Trade Theory (NTT)

North American Free Trade Agreement (NAFTA)

Offshore outsourcing

Offshoring

Organisation for Economic Co-operation and Development (OECD)

Organization of the Petroleum Exporting Countries (OPEC)

Outsourcing

Purchasing power parity (PPP)

Rules of origin

Safeguard

South Asia Free Trade Agreement (SAFTA)

Special drawing rights (SDRs)

Special Economic Zone (SEZ)

Tariff

Tax, tariff and trade

Terms of trade (TOT)

Tobin tax

Trade

Trade barrier

Trade bloc

Trade facilitation

Trade Facilitation and Development

Trade finance

Trade pact

Trade sanctions

Trade war

Transfer pricing

Transfer problem

United Nations Monetary and Financial Conference

Uruguay Round (Of General Agreement on Tariffs and Trade)

Wage insurance

World Intellectual Property Organization (WIPO)

World Intellectual Property Organization Copyright Treaty (WIPO Copyright Treaty)

World Trade Organization (WTO)

Offer curve

In economics and particularly in international trade, an offer curve shows the quantity of one type of product that an agent will export ("offer") for each quantity of another type of product that it imports. The offer curve was first derived by English economists Edgeworth and Marshall to help explain international trade.

The offer curve is derived from the country's PPF. We describe a Country named K which enjoys both goods Y and X. It is slightly better at producing good X, but wants to consume both goods. It wants to consume at point C or higher (above the PPF). Country K starts in Autarky at point C. At point C, country K can produce (and consume) 3 Y for 5 X. As trade begins with another country, and country K begins to specialize in producing good X. When it produces at point B, it can trade with the other country and consume at point S. We now look at our Offer curve and draw a ray at the level 5 Y for 7 X. When full specialization occurs, K then produces at point A, trades and then consumes at point T. The price has reduced to 1 Y for 1 X, and the economy is now at equilibrium.

Paraíba State University

The Paraíba State University (Portuguese: Universidade Estadual da Paraíba, UEPB) is a public university in the Brazilian state of Paraíba. The university has eight campuses throughout the state, and its main campus is located in the city of Campina Grande.

It was founded by local ordinance n. 23, on March 15, 1966, as Regional University of Northeastern Brazil (Portuguese: Universidade Regional do Nordeste - URNe) as a local autarky. On October 11, 1987 by State Law n. 4.977, which was sanctioned by Governor Tarcísio Burity, the URNe became the State University of Paraíba.

Reichsausstellung Schaffendes Volk

The Reichsausstellung Schaffendes Volk (The Reich's Exhibition of a Productive People) of 1937 was held in today's North Park district of Düsseldorf, Germany, along one mile of the Rhine shoreline. It was opened on May 8, 1937 by Hermann Göring. Through October of the same year it attracted about six million visitors.

Originally planned as an exhibition of the Deutscher Werkbund it finally turned into a rival to the 1937 International Exposition of Modern Life in Paris. The exhibition was meant to showcase the domestic accomplishments of the National Socialists in new housing, art, and science and to prepare the German people for the upcoming four-year plan which aimed at German autarky in (natural) resources. The fair's director was Dr. Ernst Poensgen.

The exhibition was laid out in four main divisions:

industry and economics

land utilization and city planning

material progress (with an emphasis on progress in synthetics/ersatz products)

arts and culture.Through the publicity efforts of its CEO, Max Keith, a functioning Coca-Cola GmbH bottling plant stood at the center of the fairgrounds, with a miniature train for children, and immediately adjacent to the Propaganda Office.

Self-sustainability

Self-sustainability and self-sufficiency are overlapping states of being in which a person or organization needs little or no help from, or interaction with, others. Self-sufficiency entails the self being enough (to fulfill needs), and a self-sustaining entity can maintain self-sufficiency indefinitely. These states represent types of personal or collective autonomy. On a national scale, a totally self-sufficient economy that requires little or no trade with the outside world is called an autarky. Absolute purity of personal self-sufficiency or national autarky is a theoretical concept rather than a reality, but relative degrees are observable in real-world examples.

Self-sustainability is a type of sustainable living in which nothing is consumed other than what is produced by the self-sufficient individuals. Examples of attempts at self-sufficiency in North America include simple living, homesteading, off-the-grid, survivalism, DIY ethic and the back-to-the-land movement.

Practices that enable or aid self-sustainability include autonomous building, permaculture, sustainable agriculture, and renewable energy. The term is also applied to limited forms of self-sustainability, for example growing one's own food or becoming economically independent of state subsidies. The self-sustainability of an electrical installation measures its degree of grid independence and is defined as the ratio between the amount of locally produced energy that is locally consumed, either directly or after storage, and the total consumption.A system is self-sustaining (or self-sufficient) if it can maintain itself by independent effort. The system self-sustainability is:

the degree at which the system can sustain itself without external support

the fraction of time in which the system is self-sustainingSelf-sustainability is considered one of the "ilities" and is closely related to sustainability and availability. In the economics literature, a system that has the quality of being self-sustaining is also referred to as an autarky.

Stabilization Plan

The Stabilization Plan of 1959 (Spanish: Plan de Estabilización de 1959) or the National Plan of Economic Stabilization (Spanish: Plan Nacional de Estabilización Económica) were a series of economic measures taken by the Spanish Government in 1959. Its main goal was the economic liberalization of the Spanish markets, marking a turning point from the previous policies oriented towards achieving autarky.

The Plan led to an economic boom in Spain for most of the 1960s. The monetary reserves of the Bank of Spain increased, inflation dropped from 12.6% in 1958 to 2.4% in 1960, Spain attracted foreign investment, and the relaxation of tariffs led to the import of new technologies. On the negative side, unemployment increased due to the decrease in production caused by higher imports, which lowered the demand for national products. This decrease in production also led to lower consumption and wage freezes.

Trade war

A trade war is an economic conflict resulting from extreme protectionism in which states raise or create tariffs or other trade barriers against each other in response to trade barriers created by the other party. Increased protection causes both nations' output compositions to move towards their autarky position.Trade wars could be escalated to full conflict between states, as evidenced in the Massacre of the Bandanese after alleged violations of a new treaty. The First Anglo-Dutch War caused by disputes over trade, the war began with English attacks on Dutch merchant shipping, but expanded to vast fleet actions. The Second Anglo-Dutch War for control over the seas and trade routes, where England tried to end the Dutch domination of world trade during a period of intense European commercial rivalry. The Fourth Anglo-Dutch War over British and Dutch disagreements on the legality and conduct of Dutch trade with Britain's enemies in that war. The Shimonoseki Campaign after unrest over the shogunate's open-door policy to foreign trade. The First Opium War which started after the Qing government blockaded its ports and confined British traders, resulted in the dispatch of the British Navy to China and engage the Chinese Navy in the Battle of Kowloon. The First Opium War eventually led to the British colony of Hong Kong, and the Second Opium War, which arose from another trade war with the same underlying causes, expanded the British possessions on the island.

Vertical archipelago

The vertical archipelago is a term coined by sociologist and anthropologist John Victor Murra under the influence of economist Karl Polanyi to describe the native Andean agricultural economic model of accessing and distributing resources. Aside from certain cultures, particularly in the arid northwest coast of Peru and northern Andes, pre-colonial Andean civilizations did not have strong traditions of market-based trade. Like Mesoamerican pochteca traders, there was a trading class known as mindaláes in these northern coastal and highland societies. A system of barter known as trueque is also known to have existed in these coastal societies as a means of exchanging goods and food stuffs between farmers and fisherman. A simple currency, known to archaeologists as axe-monies, were also present in the area (as well as western Mesoamerica). By contrast, most highland Andean societies, such as the Quechua and Aymara, were organized into moietal lineage groups, such as ayllus in the Quechua case. These lineages internally shared labor through a system called minga. This minga labor system itself rested upon the concept of ayni, or reciprocity, and did not use any form of money as in the case of the coastal Andean traders. Fundamentally, it is a concept of "ecological complementarity" mediated through cultural institutions. Some scholars, while accepting the structure and basic nature of the vertical archipelago, have suggested that inter-ethnic trade and barter may have been more important than the model suggests, despite the lack of evidence in the archaeological and ethnohistoric record.Absent the use of trade to access resources, economic transactions were essentially intra-lineage obligations of labor. These lineages required a base level of self-sufficiency to achieve autarky. In the Andes, a long mountain range with a great variety of ecozones and resources, the need to access the proper lands for specific crops or animals meant lineages created miniature colonies or sent seasonal migration (such as transhumance) in different ecoregions. As the Andes are a relatively young mountain range, there is an especially great variation in rainfall and temperature, which has great importance for agriculture. This is all the more important as only about 2% of the land in the Andes is arable.

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