Essentially, Chinese policymakers want to autarkically
supply Chinese markets for advanced technology products with local production while still benefitting from unfettered access to global markets for their technology exports.
Because our existence has no intrinsic value, it can take on whatever value that we autarkically
choose to give it.
The endowment and technologies described above imply a set of technically feasible cooperative production outcomes if all investors' endowments are invested jointly, and a set of technically feasible individual production outcomes if a single investor invests autarkically
. Assume free disposal: If a production outcome is feasible, then any outcome that provides less consumption at each date (and, in the case of individual feasibility, for each type) is also feasible.
Soviet physics was not grown autarkically
, as the time abroad in both Landau's and Kapitsa's cases demonstrates (the former supported by Rockefeller Foundation money, the latter by an extended stay in Ernest Rutherford's Cavendish Laboratory in Cambridge) (85).
Sections IV through VII derive the optimal saving behavior of agents who save autarkically, and analyze the steady-state equilibrium and stability properties of this equilibrium.
However, avoiding the fixed cost requires that an agent invest autarkically whic h prevents the sharing of relocation risk.
Therefore, relocated agents who save and invest autarkically lose the value of their investment in the technology to produce physical capital, because capital investment cannot be transported between locations.
A borrower can operate his project in two mutually exclusive ways: autarkically, without any liquidity inflow from outside; or with investment, which requires borrowing one unit of liquidity from a lender.
Good projects pay [R.sup.autarky] with certainty if operated autarkically; they pay R with certainty if operated with investment, provided the borrower has found a lender willing to lend.
[R.sup.autarky] if borrower operates project autarkically.