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aziz memmi

Student in Business administration, Tunis business school

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Independence of economies

Can an economy be [totally] self-sufficient ?

Topics: economics
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    Apr 29 2013: The economy of what?
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    Apr 29 2013: I suppose you mean a national economy.
    Take away from your society all the things that were not invented or made in your own country, and see what you're left with. Away with all electronics, cars, airplanes ... In fact away with most things we live with. Pretty sad.
    We certainly need trade and international investments. We must get used to the fact that we depend on one another, which is not a bad thing in principle. Whether we have the wisdom to manage the potential drawbacks and prevent exploitations that may arise from globalism is the flip side of the coin. That may take centuries to work out.
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    Apr 23 2013: Another thought on this look at the video I linked and consider how that applies to China. Once the technological leader of the world then decided to wall themselves off from the world and fell behind and now embracing the world once again and they are booming again.
    • Apr 23 2013: Thanks. Exactly my point.
  • Apr 23 2013: From the theoretical point of view the answer is definitely yes.
    From practical point of view, if you consider the outside influences, the economies of scale that can be obtained in othe parts, the variety of resources (type and quantities) the can be obtained in other parts of the world, definitely on the long run it will kill that economy.