Trade within a country or among countries happens for reason: both parties benefit. If a country could achieve self-sufficiency in everything (autarchy), it would be shooting itself in the foot, denying itself the benefits of trade. From Daniel Lacalle at The Epoch Times via zerohedge.com:
The invasion of Ukraine, the spike in inflation, and the risks of supply shortages have made some politicians dust off some of the worst economic ideas in history: autarchy and protectionism.
Some believe that if our nation produced everything we needed, we would all be better off because we wouldn’t depend on others. The idea comes from a deep lack of understanding of economics. There’s no such thing as autarchy. There’s no such thing as covering all the needs of a population based on the limit of a politically defined border. It makes no sense.
If I told you that I wanted to make my city self-sufficient, you would laugh about it, understanding that it’s impossible and that the reason why my city thrives is because of the interaction and commerce with other cities. However, when a group of politicians defines a nation’s border, we’re immediately led to believe that thos
STRAIGHT LINE LOGIC 