Impact of mathematical theory of exchange on national economic growth

Abstract

The paper presents the economic and mathematical theories of exchange by W.S. Jevons, L. Walras, J.E. Stiglitz, B. Holmström, and others. Theories of exchange are classified into classical (J.B. Say), neoclassical (A. Marshall), contractual (B. Holmström), natural scientific (V. Pareto), statistical. Mathematical models of exchange allow deepening the concept of competition. They show competition from the interaction of producers and the resulting uncertainty of exchange. It is shown that the emphasis on exchange to the detriment of production or, conversely, underestimation of exchange in economic regulation leads to a slowdown in economic growth. Research methods: abstraction, analysis and synthesis, the method of comparative descriptive analysis, economic and mathematical analysis.