TITLE:
Mathematical Foundations of Sustainable Economy Development
AUTHORS:
Nicholas Simon Gonchar
KEYWORDS:
Technological Mapping, Economic Equilibrium, Clearing Market, Recession Phenomenon, Sustainable Economic Development
JOURNAL NAME:
Advances in Pure Mathematics,
Vol.13 No.6,
June
28,
2023
ABSTRACT: The principles of sustainable economic development are formulated on the basis of the developed concept of description of economic systems. Mathematical algorithms for finding equilibrium states were built and the conditions for complete clearing of the markets were found. The definition of the phenomenon of recession is given and theorems are established that formulate the conditions for the existence of a recession in the economic system. The recession depth parameter is introduced. For the input-output production model, the necessary and sufficient conditions under which the economic system functions in a profitable mode have been established. The conditions for supply vectors of firms for special technological mappings and consumers demand under which complete clearing of markets takes place are found.