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The Sufficiency Principle as the Ideas Quintessence of the Club of Rome

Author

Listed:
  • Bagrat Yerznkyan
  • Svetlana Bychkova
  • Timur Gataullin
  • Sergey Gataullin

Abstract

The paper suggests an approach to solving some basic economic problems and corresponding to them mathematical tasks, taking into account the principle of sufficiency, which, in the authors' opinion, is the quintessence of the ideas of the Club of Rome. According to this principle humanity must rationally limit its needs, produce and consume just a sufficient number of goods and in sufficient quantity. The goal of this paper is to demonstrate opportunities of application the principle of sufficiency for dealing with some problems (tasks), namely the consumer task and the producer task, both aimed at the achievement of not maximal but sufficient utility. In addition, the problem of optimal linear production planning aimed at the search of an optimal plan which from all admitted plans provides a maximal profit is considered. Since nowadays there is no common method of solving all these problems, possibility of finding their private solutions is described.

Suggested Citation

  • Bagrat Yerznkyan & Svetlana Bychkova & Timur Gataullin & Sergey Gataullin, 2019. "The Sufficiency Principle as the Ideas Quintessence of the Club of Rome," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 15(1), pages 21-29.
    • Handle: RePEc:mje:mjejnl:v:15:y:2019:i:1:p21-29
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    Cited by:

    1. Sergey Korchagin & Ekaterina Pleshakova & Irina Alexandrova & Vitaliy Dolgov & Elena Dogadina & Denis Serdechnyy & Konstantin Bublikov, 2021. "Mathematical Modeling of Electrical Conductivity of Anisotropic Nanocomposite with Periodic Structure," Mathematics, MDPI, vol. 9(22), pages 1-12, November.
    2. Vera Ivanyuk, 2021. "Formulating the Concept of an Investment Strategy Adaptable to Changes in the Market Situation," Economies, MDPI, vol. 9(3), pages 1-19, June.
    3. Sergey Korchagin & Ekaterina Romanova & Petr Nikitin & Denis Serdechnyy & Konstantin V. Bublikov & Irina Bystrenina, 2022. "Mathematical Modeling of Dielectric Permeability and Volt-Ampere Characteristics of a Semiconductor Nanocomposite Conglomerate," Mathematics, MDPI, vol. 10(4), pages 1-7, February.

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