Updated: Aug 20, 2021

The absence of trade. For any economy, autarchy refers to the situation in which there is no internal trade. For an open economy, autarchy can also refer to the absence of external trade. The term is also applied to the policy aim of reducing a country’s dependence on foreign trade, for example by tariffs and quotas, even when foreign trade cannot be entirely eliminated.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.