Economic self-sufficiency refers to the ability of a nation or community to fulfill its own needs without relying on external sources. This concept emphasizes producing goods and services domestically to promote stability and sustainability, which is closely tied to mercantilism, a theory that advocates for a strong, self-reliant economy through government regulation and control of trade. Economic self-sufficiency was seen as crucial during the mercantilist period as it aimed to enhance national wealth and power while reducing dependence on foreign entities.
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