General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsQuick question: Is there a technical or economics term for this?
The phenomenon whereby nations begin to withdraw from their allies, cut ties with other nations, terminate trade deals and partnerships, and talk about "self-sufficiency."
If one wants to study this, what would one research?
Thanks in advance for any help.
The Velveteen Ocelot
(115,735 posts)Mike 03
(16,616 posts)Couldn't think of it...
Newest Reality
(12,712 posts)Isolationism.
Mike 03
(16,616 posts)I should have figure it out but drew a blank.
SCantiGOP
(13,871 posts)America First
smirkymonkey
(63,221 posts)I suppose it's not a technical or economic term, but it is fitting.
Yes, it's concerning me enormously. If many powerful countries all do this now, I see our future become enormously more complicated.
Newest Reality
(12,712 posts)It is the correct term, in a fundamental sense. The various technical and economic factors are aspects of that ideology.
You could also link it to nationalism, (which is not essentially the same as patriotism) which I think can foment and support isolationism in regards to policies, trade, etc. Populism can also contribute to the above, depending on the flavor.
EarnestPutz
(2,120 posts)Sound familiar?
mr_lebowski
(33,643 posts)Yup, real familiar ...
Boxerfan
(2,533 posts)Rings a bell....
muriel_volestrangler
(101,321 posts)Historically, societies have utilized different levels of autarky. The mercantilist policies followed by western European countries from the 16th to the 18th century, which tried to augment state power in part by limiting international trade, were autarkic. A more extensive form of autarky was pursued by Nazi Germany (193345), which tried to maximize trade within its own economic bloc and to eliminate it with outsiders. A contemporary example of extreme autarky is North Koreas system of juche (Korean: self-reliance).
Autarkic systems are the opposite of liberal economic systems, which encourage the free flow of goods and services. Adam Smith, the 18th-century Scottish philosopher who is also considered to be the father of modern economics, was one of the first modern thinkers to question the benefits of autarkic policies. In his major work, An Inquiry into the Nature and Causes of the Wealth of Nations (1776), he argued that mercantilist policies followed by the British Empire were detrimental to economic growth and that a free-trade system in which countries specialized in producing the goods in which they held an absolute advantage (because of superior productive capacity) would generate more wealth. The 19th-century British economist David Ricardo, considered the founder of modern international trade theory, took Smiths study a step further by showing that, if countries engaged in international trade by specializing in the goods in which they held a comparative advantage (because of lower opportunity costs), then there would be guaranteed gains from trade for all parties, regardless of the size of the economies involved.
https://www.britannica.com/topic/autarky
Hoyt
(54,770 posts)its a populist economic blunder.
It also smacks of greed, xenophobia, racism, bigotry and will have us in perpetual war, militarily, economically, cyber, etc.
Oh, it got trump elected too.
sandensea
(21,639 posts)But yes. Cheeto's policy is just isolationism.
That's more of a foreign policy term - but it certainly applies for macroeconomic policy as well in cases like these.
kentuck
(111,103 posts)...and would rather have his name on a "bi-lateral" deal. He wants to make a "deal".
MineralMan
(146,317 posts)progree
(10,909 posts)albacore
(2,399 posts)No Empire can survive when it turns it's economic and political allies into adversaries, and those now-adversaries can see the weakness and decline of that Empire.
And if you think we haven't had an Empire.... well....