Final answer:
It's impractical for countries to produce everything they consume; specialization and trade, based on comparative advantage, bring about more efficient production and a higher quality of life. Protectionism only serves well for key products when national security is at risk but is otherwise economically inefficient.
Step-by-step explanation:
The statement that countries should produce everything they consume to not have to depend on other countries is a complex one. While self-sufficiency can be appealing, it overlooks the important concept of the division and specialization of labor, which allows for more efficient and higher quality production of goods and services. Adam Smith's idea of specialization and trade based on comparative advantage supports the argument that it is not practical or desirable for a country to be completely self-reliant. Besides, the notion of protectionism for key products like oil or special materials is often considered a weaker argument, as it can lead to inefficiencies and a lower standard of living.
Every society must decide how to best utilize its limited resources. One could produce everything they need independently, or they could specialize in producing certain items and trade for the rest. Historically, as seen in pioneer days, individuals could perform a broad range of tasks to sustain themselves. Today, the division of labor means that individuals and countries can focus on what they do best, leading to more efficient production and a broader array of goods and services.