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Tag Archives: autarky

Branko Milanovic — When autarky becomes the only solution

The latest, and by far the most serious, round of US sanctions against Russia has shown two things very clearly—neither of which has received much publicity in the comments so far. The first is the extraordinary power of the modern state. The second is that when powerful states impose sanctions that limit one’s access to markets, technology and capital, the only remaining option turns out to be autarky.... The goal US policy in advancing global hegemony (American Empire) is to isolate...

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