AUTARCHY Meaning and
Definition
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Autarchy is a noun that refers to a state of complete self-sufficiency and independence, particularly in terms of economic and political aspects. It describes a system or condition in which a nation, state, or individual relies solely on its own resources and capabilities, without any external assistance or reliance on foreign trade or alliances.
In terms of politics, autarchy is a model where power is concentrated within a single entity or individual, who exercises absolute and unrestricted control over all aspects of governance without any checks or balances. This concept is often associated with authoritarian and totalitarian regimes, where the ruler or ruling party possesses ultimate authority and control over the nation.
In economic terms, autarchy entails a closed economy that produces and consumes only goods and services that originate within its own borders. This implies the absence of international trade, tariffs, or imports and relies primarily on domestic resources for its sustenance. This economic model is often pursued in an attempt to protect domestic industries and reduce dependence on foreign countries, although it can lead to reduced efficiency, limited access to international markets, and increased vulnerability to external shocks.
Autarchy can also be used more generally to describe an individual or organization that is self-reliant and self-sufficient, relying on their own abilities and resources rather than seeking external assistance or support.
Common Misspellings for AUTARCHY
Etymology of AUTARCHY
The word "autarchy" has its roots in the Ancient Greek language. It is derived from the Greek word "autarkhēs", which is a combination of two Greek terms: "auto", meaning "self", and "arkhē", meaning "rule" or "authority". The term "autarkhēs" was used in Ancient Greek to refer to a self-sufficient or self-governing individual or entity. From there, the word "autarchy" was adopted into the English language, primarily during the 17th century, to describe a system of government where a leader or ruler exercises absolute authority and control over a country without external interference. In modern usage, "autarchy" often refers to economic self-sufficiency or a policy of limiting external trade and relying on internal resources and production.
Similar spelling words for AUTARCHY
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